Türkiye has secured a groundbreaking $5 billion financing deal with the Asian Infrastructure Investment Bank (AIIB), marking the beginning of a multi-year partnership to fund vital infrastructure and sustainable development projects across the country.
In a significant step towards deepening international financial cooperation, Türkiye’s Treasury and Finance Ministry has formalized a $5 billion financing deal with the Asian Infrastructure Investment Bank (AIIB) to support key public projects across the country.
The Memorandum of Understanding (MoU), signed on Monday, marks the first-ever multi-year framework between Türkiye and AIIB, setting the stage for a robust partnership through 2027.
The deal will fund crucial infrastructure projects in sectors such as energy, transportation, water management, and export financing, with an emphasis on sustainable and green development. This financing commitment underscores Türkiye’s growing prominence as a preferred partner in global development, driven by its strategic economic plans and strong ties with international development banks.
In addition to the public sector financing, AIIB plans to inject another $5 billion into Türkiye’s private sector, further diversifying funding sources for businesses and infrastructure projects. By the end of 2024, Türkiye’s active portfolio with international financial institutions is expected to reach an impressive $35 billion, a testament to the confidence global partners have in the country’s economic stability and growth potential.
This landmark agreement positions Türkiye as a key player in regional and global development efforts, unlocking new opportunities for both public and private sector growth.
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New Iranian Supreme Leader Mojtaba Khamenei has said Iran should continue ‘blocking the Strait of Hormuz’ in his first statement since his election, read out on Iranian State television on Thursday (12 March).
Iran’s President Masoud Pezeshkian has set recognition of Tehran’s inalienable rights, payment of war compensation, and international guarantees against any future invasion as conditions for ending the U.S.–Israel war with the Islamic Republic.
At least 64 people have been killed in southern Ethiopia following recent landslides and floods, the regional government’s communications office said on Thursday (12 March), citing local police
British Prime Minister Keir Starmer was warned about the "reputational risks" of appointing Peter Mandelson as U.S. Ambassador due to his friendship with convicted sex offender Jeffery Epstein, files released on Wednesday (11 March) show.
The 32 countries belonging to the Internatioanl Energy Agency agreed to release 400 million barrels of oil on Wednesday (11 March), in efforts aimed at bringing down the price of crude oil, which has soared since fighting between Iran, Israel and the U.S. started at the end of February.
Iran should continue ‘blocking the Strait of Hormuz’, Iran's new Supreme Leader Mojtaba Khamenei, said in his first speech since being elected on Thursday. His words were read out by a broadcaster on state Iranian television. Khamenei has still yet to be seen in public since his election.
A towering lava fountain from Kilauea shot about 400 metres into the air late on Tuesday (11 March) on Hawaii Island, prompting temporary closures at Hawaii Volcanoes National Park and part of a key highway as volcanic ash and debris fell over nearby areas.
Norwegian police apprehended three brothers suspected of carrying out Sunday's (8 March) bombing at the U.S. embassy in Oslo, in an attack investigators have branded an act of terrorism.
More than 68,000 children in eastern Afghanistan have been displaced after clashes between Afghan and Pakistani forces intensified along the border, according to a new report by Save the Children.
Fifteen Turkish-owned vessels remain stranded in the blockaded Strait of Hormuz, Türkiye’s Transport and Infrastructure Minister Abdulkadir Uraloğlu said on Wednesday.
New Iranian Supreme Leader Mojtaba Khamenei has said Iran should continue ‘blocking the Strait of Hormuz’ in his first statement since his election, read out on Iranian State television on Thursday (12 March).
Iran’s President Masoud Pezeshkian has set recognition of Tehran’s inalienable rights, payment of war compensation, and international guarantees against any future invasion as conditions for ending the U.S.–Israel war with the Islamic Republic.
Iran should continue ‘blocking the Strait of Hormuz’, Iran's new Supreme Leader Mojtaba Khamenei, said in his first speech since being elected on Thursday. His words were read out by a broadcaster on state Iranian television. Khamenei has still yet to be seen in public since his election.
The new constitution of Armenia must not contain any reference to the Declaration of Independence, Armenian Prime Minister Nikol Pashinyan said on Thursday (12 March), according to Armenian media reports.
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