Turkey inks $5.1B in climate loans at COP31: What to know
Detailed summary
Ankara can count 10 loan deals worth $5.1 billion with four multilateral development banks so far at the UN climate summit, Treasury and Finance Minister Mehmet Simsek said Thursday.
Turkey signed 10 loan agreements worth $5.1 billion at the COP31 climate summit on Thursday as the host country seeks to expand clean energy.
COP31 is taking place in the Mediterranean resort city of Antalya Nov. 9-20, attracting more than 72 heads of state from around the world for international climate negotiations.
What happened: Turkey signed 10 loan deals worth $5.1 billion with four multilateral development banks on the fourth day of the UN climate summit, Treasury and Finance Minister Mehmet Simsek said Thursday.
The Asian Infrastructure Investment Bank signed a $1.6 billion climate policy loan to support Turkey’s climate policy and a separate $300 million loan through Turkish Eximbank. The other lenders were the Asian Development Bank, the World Bank and the Islamic Development Bank.
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