The Asian Development Bank (ADB) plans to accelerate resource transfers to Türkiye, its president said on Friday, a day after the lender committed $7 billion in project financing to be extended to the country over the next three years.

The funding “reflects both Türkiye’s strategic importance and our confidence in its development process,” ADB President Masato Kanda told Anadolu Agency (AA), according to a Turkish transcript of the interview released on Friday.

Kanda was on his first official visit to Türkiye this week following the country’s transition to “regional member” status last year. Within this framework, the ADB decided to provide Türkiye with $1 billion in financing for this year, and $3 billion each for 2026 and 2027.

Türkiye became a member of the Asian Development Bank (ADB) in 1991 and since then, Turkish companies have played an important role in projects financed by the bank in Asia and the Pacific, proving their strong capacities in the region, Kanda said.

He emphasized that they are entering a new period in which they directly support Türkiye’s development priorities.

“Through the ADB, Turkish firms have undertaken contracts worth more than $4 billion to date. In 2024 alone, $240 million in contracts were financed for Turkish companies,” he noted.

Kanda noted that Türkiye’s change of status within the ADB has provided both the public and private sectors with access to the bank’s products and services.

“ADB’s support will focus on strengthening Türkiye’s resilience against external shocks, increasing its capacity to attract investment, and reinforcing its role as a bridge between East and West, particularly through infrastructure investments,” he noted.

“In line with our shared values and commitment to supporting Türkiye’s development goals, we look forward to our partnership continuing to grow and strengthen.”

Initial projects approved

ADB’s board of directors recently approved the first financing package for Türkiye as part of the expanded collaboration, covering three initial projects.

The first public sector financing of 150 million euros was approved on Nov. 12 for post-earthquake reconstruction, aimed at restoring and improving water supply, wastewater, and drainage services in districts and municipalities affected by the devastating earthquakes that struck the southeastern region in early 2023.

That was followed by two private sector projects worth $100 million each, aimed at supporting companies operating in quake-affected regions and renewable energy projects.

“The bank is ready to accelerate resource transfers and deepen cooperation in Türkiye’s priority sectors to support inclusive growth and help the country achieve its long-term development vision,” Kanda said.

Kanda described Turkish entrepreneurs and financial institutions as the “locomotive of growth,” adding: “Private sector development is among ADB’s priorities. Our activities in Türkiye will serve as the flagship for our expanding private sector goals.”

He noted that they are working with international partners to support financing for the Istanbul Northern Railway Crossing Project, estimated to cost around $8 billion, which will connect Asia and Europe and contribute to regional cooperation.

Kanda highlighted that Türkiye is seen as a hub for technical and entrepreneurial expertise in renewable energy, transportation, and construction for other member countries.

“While working closely with our Turkish partners, we do not only aim to finance projects. We want to be a partner that listens, understands, and delivers results with Türkiye.”


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