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The OPEC Fund for International Development has proposed a three-year cooperation strategy with Türkiye and a separate financing agreement to expand funding for Turkish private sector projects, following talks between Treasury and Finance Minister Mehmet Simsek and the fund's chief executive Abdulhamid Alkhalifa.
The proposed agreements would move cooperation beyond individual projects, allowing the Vienna-based institution to provide direct financing to Turkish companies on a larger scale and at a faster pace.
According to a statement from the Treasury and Finance Ministry, Alkhalifa proposed a three-year Country Cooperation Strategy and a framework agreement to scale up private sector financing. Simsek has been invited to the fund's headquarters in Vienna on June 22 to sign both agreements.
During the meeting, Simsek identified green and digital transformation as central priorities of Türkiye's economic program, calling for OPEC Fund resources to support private sector investments in these areas.
He also highlighted opportunities in infrastructure, particularly transport and logistics projects that strengthen connections between industrial zones and ports, as well as cooperation in healthcare and agriculture.
The fund has already financed several projects in these sectors, including $20 million for the Health Ministry's Post-Earthquake Emergency Hospitals Project in 2024 and a $50 million credit facility to the Development and Investment Bank of Türkiye (TKYB) in March 2024 for agricultural and food businesses in earthquake-hit regions.
It also extended a €50 million ($55.8 million) loan to the Industrial Development Bank of Türkiye (TSKB) in February 2025 to support renewable energy, energy efficiency, energy storage, circular economy and climate-related investments.
Transport infrastructure has also become a major part of the partnership, with Simsek welcoming the fund's $250 million contribution to the $6.75 billion INRAIL Project.
The initiative, jointly financed by seven international financial institutions, aims to accelerate intercity rail transportation and strengthen the Middle Corridor, a key trade route connecting Asia and Europe. A loan agreement with the OPEC Fund has been signed, while procedures to bring it into force are continuing.
The fund has also committed €150 million to the Kars-Igdir-Aralik-Dilucu railway project, further expanding its involvement in Türkiye's transport infrastructure.
Established in 1976 by OPEC member countries, the OPEC Fund is an independent multilateral development institution that provides financing and technical assistance to developing countries, supporting projects in infrastructure, energy, healthcare, agriculture, and other sectors.
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