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.
Turkish authorities detained Istanbul Mayor Ekrem İmamoğlu on Wednesday on charges including corruption, aiding a terrorist group, and leading a criminal organization. The Republican People’s Party (CHP) condemned the arrest, calling it politically motivated.
Turkey's lira fell as much as 12.7% and touched a new all-time low of 42 to the dollar on Wednesday, with bonds and stocks also tumbling sharply, after authorities detained President Tayyip Erdogan's main political rival.
Turkish President Recep Tayyip Erdogan marked the 110th anniversary of the Gallipoli Victory and Martyrs' Day, honoring the soldiers who defended the Ottoman Empire in one of World War I’s fiercest battles. The victory played a key role in shaping Türkiye’s path to independence.
Uludağ, one of Türkiye’s oldest and largest soft drink brands, will receive a €25 million loan from the European Bank for Reconstruction and Development (EBRD) to finance investments in production lines and renewable energy capacity.
President Zelenskyy confirmed Ukraine’s readiness to ratify a free trade agreement with Türkiye, calling it a key security partner during talks in Kyiv on reconstruction and drone production.
U.S. President Donald Trump has expressed optimism about a potential full ceasefire in the ongoing Russia-Ukraine war, stating that peace could soon be achieved. Trump's comments add to the growing international calls for de-escalation as the conflict continues to devastate the region.
The U.S. Federal Communications Commission (FCC) has initiated an investigation into several major Chinese companies, including Huawei, ZTE, and China Telecom, to determine if they are circumventing U.S. sanctions and regulations designed to protect national security.
Wall Street’s major indexes showed slight improvement on Friday after President Donald Trump suggested flexibility on upcoming tariffs, easing market concerns ahead of potential trade measures next month.
Boeing has won a $20 billion contract to build the F-47 fighter jet for the U.S. Air Force, marking a major boost for the company amid recent challenges.
Elon Musk's push to reform U.S. government spending reached new heights on Friday as he held an unprecedented meeting with Defense Secretary Pete Hegseth at the Pentagon, where discussions centered on innovation, efficiencies, and streamlining Pentagon operations.
NASA astronauts Butch Wilmore and Suni Williams completed an unexpectedly long 286-day mission on the ISS, returning to Earth aboard a SpaceX capsule after delays caused by technical issues with Boeing’s Starliner.
In a groundbreaking study published in Cell on January 18, Chinese researchers have unveiled a novel cancer treatment that ingeniously disguises tumors as pig tissue, triggering the body’s immune system to mount a hyperacute rejection response against the cancer cells.
Russian President Vladimir Putin agreed on Tuesday to a proposal by U.S. President Donald Trump that Russia and Ukraine cease attacking each other's energy infrastructure for 30 days, the Kremlin said following a lengthy phone discussion between the leaders.
On March 16, at around 09:45, Armenian armed forces opened fire on Azerbaijani positions located in the direction of the Digh settlement in the Goris region, using firearms, according to Azerbaijan's Ministry of Defence.
Sweden’s Prime Minister Ulf Kristersson stated on Thursday that purchasing U.S. weapons does not pose a security risk for his country, but emphasized the need for Europe to reduce its reliance on American defense systems. His comments come amid growing discussions within Europe.
A magnitude 5 earthquake struck Iran’s Natanz region on Friday, shaking a key nuclear facility, though officials confirmed it was unaffected. The tremor caused damage to historical buildings but resulted in no casualties.
The United Arab Emirates (UAE) has pledged a $1.4 trillion, 10-year investment framework in the United States, marking a significant milestone in strengthening the economic ties between the two nations following a key meeting with former President Donald Trump.
Six Indonesians have died and 14 others were injured in a bus crash while on an Umrah pilgrimage in Saudi Arabia. The accident occurred near Jeddah on Thursday when the bus collided, flipped, and caught fire.
U.S. President Donald Trump has expressed optimism about a potential full ceasefire in the ongoing Russia-Ukraine war, stating that peace could soon be achieved. Trump's comments add to the growing international calls for de-escalation as the conflict continues to devastate the region.
The U.S. Federal Communications Commission (FCC) has initiated an investigation into several major Chinese companies, including Huawei, ZTE, and China Telecom, to determine if they are circumventing U.S. sanctions and regulations designed to protect national security.
Wall Street’s major indexes showed slight improvement on Friday after President Donald Trump suggested flexibility on upcoming tariffs, easing market concerns ahead of potential trade measures next month.
Boeing has won a $20 billion contract to build the F-47 fighter jet for the U.S. Air Force, marking a major boost for the company amid recent challenges.
Elon Musk's push to reform U.S. government spending reached new heights on Friday as he held an unprecedented meeting with Defense Secretary Pete Hegseth at the Pentagon, where discussions centered on innovation, efficiencies, and streamlining Pentagon operations.
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