OPEC Fund proposes three-year cooperation plan with Türkiye
The proposal would set shared priorities and create a framework for larger, faster direct financing to Turkish companies.
Key takeaways
- The OPEC Fund proposed a three-year cooperation strategy and a separate private-sector framework agreement.
- Mehmet Şimşek was invited to Vienna on June 22 to sign the agreements.
The OPEC Fund has proposed a three-year cooperation strategy with Türkiye and a separate framework agreement to support private-sector projects. The proposals were discussed at a meeting between Fund chief Abdulhamid Alkhalifa and Treasury and Finance Minister Mehmet Şimşek in Antalya.
The strategy would move cooperation from individual projects to a multi-year plan with set priorities. The proposed framework agreement is intended to let the Fund provide direct financing to Turkish companies on a larger scale and more quickly.
Şimşek was invited to the Fund’s Vienna headquarters on June 22 to sign both agreements. He identified green and digital transformation, along with transport and logistics links between industrial zones and ports, as areas for deeper cooperation.
The meeting also covered the Fund’s $250 million participation in the $6.75 billion INRAIL railway project, which is being jointly financed by seven international financial institutions. The loan agreement with the Fund has been signed, while steps to bring it into force are ongoing.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
