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According to the written statement made by the World Bank Group (WBG), the Cooperation Framework covers the fiscal years 2024-2028.

Aiming to support the country’s transition to high-income status, CPF envisages the development of the private sector to support companies’ abilities to move into higher value-added and high-tech activities.

The Cooperation Framework reflects the strong and growing cooperation between Turkey and the WBG institutions (International Bank for Reconstruction and Development, International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA)).

WBG aims to provide resources of $18 billion during the framework period, in addition to its existing country portfolio of $17 billion, which is the organization’s third largest country program.

FOCUS ON HIGH AND SUSTAINABLE PRODUCTIVITY INCREASE

Within the scope of the Cooperation Framework, the focus will be on high and sustainable productivity growth with various objectives, from promoting climate-adapted agriculture to strengthen resilience to climate change and food security to supporting economic recovery in regions affected by the earthquakes on February 6, 2023, centered in Kahramanmaraş.

In the Cooperation Framework, priority will be given to eliminating income and other inequalities, providing inclusive services to improve jobs for women, youth and vulnerable groups, and strengthening employment and resilience to natural disasters.

STUDIES WILL BE DONE TO ACCELERATE THE USE OF DIGITAL TECHNOLOGY

The Country Cooperation Framework also points out the need to accelerate digitalization, which is vital for increasing productivity and improving public service delivery.

WBG; It will work in many areas to accelerate the use of digital technology, including improving the digital business ecosystem, supporting earthquake and climate resistant urban planning, and disseminating hybrid education opportunities.

The Cooperation Framework is based on Turkey’s 12th Development Plan. WBG consulted with key stakeholder groups, including government, private sector, civil society, think tanks, academia and other development partners, during the preparation of the framework.

“Türkiye INTEGRATED ITS ECONOMY INTO GLOBAL VALUE CHAINS”

World Bank Turkey Country Director Humberto Lopez, whose views were included in the statement, said, “Turkey has made great progress in the last 20 years, significantly improving the living standards of its people, developing a modern infrastructure and integrating its economy into the global economy and global value chains.” made his assessment.

IFC Turkey and Central Asia Director Wiebke Schloemer also pointed out that Turkey’s dynamic private sector and entrepreneurial spirit played a key role in the impressive growth recorded in recent years.

MIGA Deputy Director of Economy and Sustainability Moritz Nikolaus Nebe also pointed out that the Agency is a reliable partner in supporting Turkey’s dynamic private sector and the government’s sustainable infrastructure initiatives.