Sustainability Turkey receives climate funding from Beijing agency By Pramod Kumar February 18, 2025, 9:44 AM AIIB Turkish finance minister Mehmet Simsek and AIIB president Jin Liqun shake hands after signing the investment programme Turkey has secured a $5 billion investment commitment from the Asian Infrastructure Investment Bank (AIIB), a Beijing-based multilateral funding agency, to support its long-term climate strategy. Turkish finance minister Mehmet Simsek and AIIB president Jin Liqun signed a memorandum of understanding for the investment programme, at a conference in Saudi Arabia, the bank said. The programme will be implemented from 2025 to 2027. The investments will focus on climate resilience, water management, sustainable transport, earthquake preparedness and other productive sectors, such as healthcare, Liqun said. Simsek said the agreement will mobilise investment to improve climate resilience and disaster preparedness, as well as achieve a green and digital transition. The investment programme will be reviewed semi-annually to meet Turkey’s evolving infrastructure needs. Turkey lifts Syria trade barriers to spur growth Jewellery crowns Turkish exports in January Top Turkish defence firm to build drones in Indonesia This month the European Union said it will provide a $323 million grant to Turkey to bolster the country’s green and digital transformation drive. In December 2024 energy minister Alparslan Bayraktar said Turkey needs $80 billion to meet growing energy demand, which has tripled in the last two decades. Ankara intends to invest more than $20 billion in energy efficiency projects by 2030 to combat climate change and boost sustainable development.
