18 April 2014, Friday
Today's Zaman

World Bank willing to loan $6.2 billion to Turkey by 2011

3 June 2008, Tuesday /TODAY'S ZAMAN WITH WIRES
Ulrich Zachau, the World Bank's director for Turkey, said on Tuesday they were ready to loan $6.2 billion to Turkey under the country partnership program over the next three years.

Zachau told reporters during his visit to the Chamber of Industry in the southeastern province of Gaziantep that the World Bank provided loans to banks in Turkey, which in turn provided loans to Turkish companies. He said they also shared know-how and the experiences of various countries with Turkey's government.

Zachau said chambers and labor unions had an important part to play in the country's development. "As a matter of fact we have made very interesting assessments. On the one hand, we see growth and opportunities for success, but on the other hand, we see some drawbacks such as education and unemployment," said Zachau.

World Bank ready to provide loans for environmental projects

When reporters asked about Turkey's decision to sign the Kyoto protocol, Zachau said the World Bank was ready to support environmental projects. "After signing the Kyoto Protocol, an additional protocol will be signed that will allow Turkey to make use of international funds," said Zachau.


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