18.05.2018Bank provides over $86.5M loan to back Turkey’s infrastructure financing
The World Bank provided a €73.5-million (over $86.5-million) loan for the sustainable cities project in Turkey, according to the Treasury's announcement.
"The World Bank has provided, under the Treasury guarantee, a €73.5-million loan for sustainable cities project to Iller Bankasi," the Treasury said in a statement.
The project aims to finance infrastructure investments of municipalities in Turkey, according to the statement.
Meanwhile, the World Bank also said that the loan facilitates Turkish municipalities for their investments to provide better services to citizens in order to improve the economic, financial, environmental and social sustainability of Turkish cities.