On the fourth day of the COP31 summit, which is being held from November 9 to 20 in the tourist city of Antalya, Turkey signed 10 loan agreements worth $5.1 billion with four multilateral development banks. This summit is attended by more than 72 presidents and representatives from various countries around the world and is dedicated to discussing solutions to combat climate change.
Details of the Loan Agreements
Turkey's Minister of Treasury and Finance, Mehmet Şimşek, announced that the Asian Infrastructure Investment Bank has signed a loan worth $1.6 billion to support Turkey's climate policies, as well as a separate loan of $300 million through the Export-Import Bank of Turkey (Turkiye Exim Bank). Other lenders include the Asian Development Bank, the World Bank, and the Islamic Development Bank.
Turkey's Climate Goals
As the host of this summit, Turkey seeks to strengthen international cooperation on climate change and expand the use of renewable energy. By signing these agreements, the country aims to get closer to its goal of reducing greenhouse gas emissions and increasing the share of clean energy in its national energy mix. This action not only helps Turkey fulfill its international environmental commitments but also facilitates attracting foreign investments.
The COP31 summit is taking place as various countries seek solutions to reduce the impacts of climate change and enhance their resilience to environmental challenges. By signing these agreements, Turkey also demonstrates to other countries its commitment to achieving global climate goals and its readiness to cooperate internationally to reach common objectives.
