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The World Bank will provide €350 million ($409.92 million) in financing for an education project in Türkiye aimed at improving the skills young people need to enter the labor market, according to information obtained from the Treasury and Finance Ministry.
The Education for Preparation for Türkiye’s Labor Market Project was approved by the World Bank’s Executive Directors Board as part of Türkiye’s ongoing efforts to secure concessional financing from international financial institutions.
The project will be implemented by the Ministry of National Education and focuses on developing the skills young people need to successfully transition into the labor market.
The initiative aims to support skills acquisition by improving learning environments, strengthening teachers’ professional capacities and increasing cooperation with the private sector.
Under the project, €350 million in financing will be provided by the World Bank.
With this approval, the total amount of concessional external financing approved by the World Bank for Türkiye in 2025 has reached approximately $4.6 billion.
Treasury and Finance Minister Mehmet Simsek said the government continues its work within the framework of an economic program that prioritizes sustainable growth and social welfare, as well as the Medium-Term Program.
Simsek said strengthening education capacity and equipping young people with skills required by the modern era would lead to productivity gains and make a significant contribution to Türkiye’s development.
He added that cooperation with the World Bank would continue to strengthen in the coming period.
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