Ukraine Recovery Conference concludes with focus on funding, not peace
The two-day Ukraine Recovery Conference wrapped up in Rome on Friday, but the vision of rebuilding the war-torn country remains largely theoretical am...
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.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
Kazakhstan's Ministry of Transport and Afghanistan's Ministry of Public Works have reached an agreement on the construction of a new railway line to connect Central Asia and South Asia, which will increase the efficiency of the North-South corridor.
Two of China’s biggest electric-vehicle makers may have to return a combined 373 million yuan (about $53 million) in state aid after a government audit said nearly 22,000 cars sold up to 2020 should never have qualified for clean-energy incentives.
Uzbekistan and the State of Eritrea signed a Joint Communiqué on the establishment of diplomatic relations through their respective UN Missions.
China said it is ready to "continuously" boost strategic coordination with Moscow. Chinese Foreign Minister Wang Yi told Russian counterpart Sergey Lavrov in Kuala Lumpur on Thursday that Beijing is prepared to help safeguard both countries’ security and development interests.
The United States has imposed sanctions on 22 entities linked to a transnational network engaged in illicit oil trade on behalf of the Iranian regime.
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