Ankara, Türkiye, 20 June 2025 – The Islamic Development Bank (IsDB) and the Republic of Türkiye have signed two strategic financing agreements totaling around US$740 million. The agreements aim to support the country's post-earthquake recovery through investments in disaster-resilient health systems and promoting green, resilient, and inclusive education.

The signings took place in Ankara by Mr. Kerem Dönmez, Director General of Foreign Economic Relations, Ministry of Treasury and Finance of Türkiye, and Dr. Walid Abdelwahab, Director of the IsDB Group Regional Hub in the country.

Over the past 50 years, the IsDB Group has allocated more than US$14.7 billion towards development financing projects and initiatives in Türkiye, focusing on 587 projects that cover various sectors, including health, renewable energy, education, and modern transportation, along with numerous other environmentally sustainable projects.   

This series of financings marks another significant milestone in the longstanding development partnership between Türkiye and the IsDB Group and aligns with the 2024–2026 Country Engagement Framework and the Government’s 12th Development Plan.

Mr. Kerem Dönmez stated that these projects demonstrate the critical importance attached to improving resilient infrastructure by the Government of Türkiye in the health and education sectors, both in Istanbul and in the earthquake-affected region.

Dr. Walid Abdelwahab reaffirmed the IsDB Group’s unwavering commitment to supporting Türkiye’s recovery and fostering its long-term resilience. “We are proud to support transformative projects that address urgent needs and promote long-term development in Türkiye,” he stated.

In the health sector, both parties have signed a EUR 500 million financing agreement for the reconstruction and upgrading of two hospitals in Istanbul as part of the Istanbul Seismic Risk Reduction and Emergency Preparedness (ISMEP) initiative. The Fatih Sultan Mehmet Training and Research Hospital will be expanded from 310 to 1,584 beds. Once operational, it will handle over 2.6 million outpatient visits and 800,000 emergency cases annually. This project currently represents the largest single financing by IsDB to Türkiye and will significantly enhance the country’s capacity to deliver safe, high-quality, and earthquake-resilient healthcare services. The project is co-financed by the Council of Europe Development Bank.

The second agreement allocates US$165 million in financing for the construction of 33 modern, climate-resilient schools in earthquake-affected and high-risk provinces. These schools will annually serve approximately 72,000 students, offering advanced learning environments with modern tools and facilities. The project is part of a larger initiative involving co-financing from the World Bank to deliver a total of 93 schools and reaffirms the Government’s commitment to inclusive and sustainable education recovery.

Each of these initiatives contributes to Türkiye’s commitments towards the United Nations Sustainable Development Goals (SDGs), thereby reinforcing IsDB’s role as a catalyst for inclusive and sustainable development across the Global South.

For more information, visit: www.isdb.org or contact:

• Kokhorjon Aminov – Operations Team Leader, IsDB | Email: kaminov@isdb.org
• Oussema Trigui – Operations Team Leader, IsDB | Email: OTrigui@isdb.org
• M.A. DinMohammadi – Regional Communications Officer, IsDB | Email: mdinmohammadi@isdb.org

About Islamic Development Bank (IsDB) Group 

Rated AAA by the major rating agencies of the world, the Islamic Development Bank is the pioneering multilateral development bank (MDB) of the Global South that has been working for over 50 years to improve the lives of the people and communities it serves by delivering impact at scale. The Bank brings together 57 Member Countries across four continents, touching the lives of nearly 1 in 4 people worldwide. It is committed to addressing development challenges and promoting collaboration to help achieve the United Nations Sustainable Development Goals (SDGs) by equipping people to drive their own green economic and sustainable social progress, putting planet-friendly infrastructure in place, and enabling them to fulfil their potential. Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has 10 regional hubs and a center of excellence.  Over the years, the Bank has evolved from a single entity into a group comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI); the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); the Islamic Corporation for the Development of the Private Sector (ICD); the International Islamic Trade Finance Corporation (ITFC); and the Islamic Solidarity Fund for Development (ISFD).