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The World Bank approved $750 million in financing for Türkiye’s Agrifood Sector Transformation for Rural Jobs and Growth (TARGET) Project, which aims to widen access to finance and strengthen links across the country’s agrifood economy.
The financing aims to strengthen the competitiveness and integration of Türkiye’s agrifood value chains while improving productivity, added value, growth and market access for agrifood businesses and producer organizations, according to a statement from the bank.
The financing brings the total amount of long-term and favorable external financing provided by the World Bank to Türkiye across all sectors in 2026 to more than $9 billion.
The TARGET project is expected to benefit approximately 225,000 farmers by 2032 and generate an estimated 110,000 more and better-paid jobs across Türkiye’s agrifood economy. Around 193,000 farmers are expected to join stronger commercial market arrangements, while 26,300 are expected to gain greater access to finance, with the project also targeting less-developed regions, women and youth.
The World Bank expects TARGET to mobilize $670 million in private capital. The project combines a $720 million Reimbursable Finance Facility, which will provide long-term funding for value-chain, climate resilience, food safety and market-access investments, with a Partial Credit Guarantee scheme to expand commercial lending to farmers.
The Reimbursable Finance Facility is expected to attract an additional $144 million in private co-financing, while the $30 million guarantee mechanism is expected to mobilize approximately $526 million in commercial lending for productivity, modernization and climate-resilient technologies.
The World Bank is also working with the International Finance Corporation (IFC), which will provide advisory support and investments to strengthen agribusiness capacity and access to finance.
Over a 20-year period, the project is expected to contribute to significant greenhouse gas emissions reductions while strengthening agrifood value chains against droughts, heatwaves, water scarcity, frost and other climate-related shocks.
"Türkiye has enormous potential to further strengthen the competitiveness and sustainability of its agrifood sector," World Bank Country Director for Türkiye Jean-Christophe Carret said. "By mobilizing private capital alongside public resources, the project will support rural jobs, improve productivity, and help position Türkiye as an even stronger player in regional and global agrifood markets."
Treasury and Finance Minister Mehmet Simsek described the project as part of continued cooperation with the World Bank to strengthen Türkiye’s production ecosystem.
"Our work to secure long-term and favorable external financing is continuing without slowing down under our economic program that prioritizes sustainable growth and social welfare and within the framework of the Medium-Term Program," Simsek said. "With this loan, our support for agriculture and rural development will continue strongly."
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