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World Bank Group (WBG), which includes the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), announced that it will focus on lending to three priority areas in Turkey between the years 2024 and 2028. The detailed information about the Country Partnership Framework (CPF) for Turkey was shared by the World Bank Group in relation to the "Country Partnership Strategy" for Turkey, which was recently updated.

The three priority areas for World Bank Group's lending to Turkey are:

1. Green and Sustainable Growth: The World Bank Group aims to support Turkey in its transition to a green and sustainable economy by focusing on renewable energy, energy efficiency, circular economy, and sustainable infrastructure projects. The CPF highlights the importance of reducing Turkey's carbon emissions and increasing its share of renewable energy sources in the energy mix. The World Bank Group plans to provide financing and technical assistance to help Turkey improve its energy efficiency and reduce its reliance on fossil fuels.

2. Digital Transformation and Innovation: The World Bank Group recognizes the importance of digital transformation and innovation in Turkey's economic growth and development. The CPF emphasizes the need to improve the digital infrastructure and digital skills of the Turkish workforce to enable the country to fully participate in the digital economy. The World Bank Group plans to provide financing and technical assistance to support the development of digital infrastructure, including broadband connectivity and e-government services, and to promote digital entrepreneurship and innovation.

3. Inclusive Growth and Social Protection: The World Bank Group aims to support Turkey in promoting inclusive growth and social protection to reduce poverty and inequality. The CPF highlights the importance of improving access to quality education and healthcare services, as well as increasing the employment opportunities for disadvantaged groups, including women and youth. The World Bank Group plans to provide financing and technical assistance to support the development of social safety nets and labor markets, and to promote financial inclusion and access to affordable housing.

The World Bank Group also plans to collaborate with the Turkish government and other development partners to implement the CPF and achieve the development objectives outlined in Turkey's National Development Plan and the United Nations Sustainable Development Goals (SDGs). The CPF is expected to be implemented over the period of 2024-2028 and will be reviewed and updated regularly to ensure that it remains aligned with Turkey's development priorities and the changing economic and development context.

The World Bank Group has been a long-term development partner of Turkey and has provided over $25 billion in financing and technical assistance since the 1950s. The CPF builds on the successes of previous partnerships and reflects the World Bank Group's commitment to supporting Turkey in its efforts to promote sustainable and inclusive economic growth and development.