World Bank, Turkey program extended by 12 months

Country Partnership Strategy budget could see an additional $2 billion, says Turkish Treasury statement.

World Bank, Turkey program extended by 12 months

World Bulletin/News Desk

A partnership program between Turkey and the World Bank has been increased by a year and could see its budget receive an additional $2 billion, according to Turkey’s Treasury.

The extension brings the budget of the Country Partnership Strategy program implemented by the World Bank and Turkey to $6.45 billion, an official statement released by the Treasury on Wednesday said.

Endorsed by the World Bank’s Board of Executive Directors in March 2012, the strategy arranges the framework for the international organization’s financial and technical partnership with Turkey for the fiscal years 2012-2015.

"The CPS period has been extended one year until the 30th of June 2016. As a result of the extension, the CPS financial package has been increased by up to $2 billion, reaching $6.45 billion in total," the Treasury statement said.

Through Country Partnership Strategy programs the World Bank aims to plan and implement projects with party countries on their economies as well as conduct analytical studies on nations’ general outlook.


Güncelleme Tarihi: 08 Ekim 2014, 17:11

Muhammed Öylek