ASIATODAY.ID, ANKARA — Asian Development Bank (ADB) President Masato Kanda met with Türkiye President Recep Tayyip Erdoğan today in Ankara to discuss ADB’s commitment to support the country’s national development agenda, including ADB’s intention to deliver $3 billion annually in project financing for 2026 and 2027.
“ADB welcomes the opportunity to support Türkiye’s long-term growth and resilience,” said Kanda.
“With its strategic regional position bridging east and west, and its wealth of knowledge and expertise, Türkiye also has much to offer the region.”
Kanda also reaffirmed ADB’s commitment to a strong partnership during his meeting with Vice President Cevdet Yılmaz.
ADB officially commenced operations in Türkiye, marked by the launch of its Interim Country Partnership Strategy (ICPS) for 2025–2027.
Kanda joined government officials led by Minister of Treasury and Finance Mehmet Şimşek and Deputy Minister Osman Çelik to unveil the ICPS, which outlines ADB’s strategic approach to supporting Türkiye’s development priorities.
Demonstrating its readiness to support Türkiye’s development agenda, ADB also announced approval of its initial financing package: a sovereign loan of EU150 million to support earthquake rehabilitation efforts, and two non-sovereign financing facilities of $100 million each for Akbank and Denizbank.
ADB and the Turkish Ministry of Treasury and Finance signed the first sovereign loan agreement on 12 November in Ankara.
ADB has worked closely with the government to build a robust project pipeline, focused on strengthening resilience, expanding regional connectivity, and mobilizing private investment.
Kanda acknowledged the government’s efforts in stabilizing Türkiye’s economy following the devastating earthquake in 2023. To support these efforts, ADB will sustain its financing momentum in 2026 and beyond, delivering impactful and high-quality interventions that advance Türkiye’s development agenda.
Beyond public sector activities, ADB will also deepen its engagement with the country’s private sector. In an earlier lunch event with business leaders, Kanda stated that ADB stands ready to support Türkiye’s entrepreneurs by mobilizing capital, sharing global know-how, and partnering to accelerate green growth, financial inclusion, and connectivity for the country’s next phase of sustainable progress.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet.
Founded in 1966, ADB is owned by 69 members—50 from the region. (AT Network)
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