WASHINGTON, August 29, 2017 – The World Bank Group and the Government of Turkey have renewed their partnership with the introduction of a new Country Partnership Framework (CPF), endorsed today by the Group’s Board of Executive Directors.
The 2017–2021 Country Partnership Framework for Turkey focuses on three core areas: growth, inclusion and sustainability.
To help boost growth the CPF supports government efforts to address challenges in fiscal management, the financial sector, competitiveness, and private investment, through increased fiscal space, enhanced access to finance for underserved segments, and enhanced competitiveness and employment in selected industries.
Recognizing Turkey’s success towards achieving the twin goals of reducing poverty and boosting shared prosperity, the Framework aims to promote inclusion by supporting efforts to reach those who are left behind, through increased effectiveness of social assistance, increased labor force participation of women and vulnerable groups, and strengthened performance of the education and health sectors.
The CPF also promotes sustainability by helping to reorient growth towards a greener, resilient and sustainable pattern, through improved reliability of energy supply and generation of green energy, improved sustainability and resilience of cities, and increased sustainability of infrastructure assets and natural capital.
“Turkey has the opportunity to build on recent success to bring higher standards of living to all of its population and to enhance its role in the global economy. The new CPF aims to work with Turkey to turn this opportunity into a reality,” said Johannes Zutt, World Bank Country Director for Turkey. “As Turkey approaches high income status, our partnership needs to evolve to ensure that World Bank Group’s financing, knowledge, and global experience help Turkey to strengthen the institutions needed to sustain social and economic development at these higher levels.”
The Framework serves as a business plan for the World Bank Group to support Turkey’s own development and reform agenda – outlined in the Government’s 10th Development Plan for 2014-2018. The goal of this framework is to support the government in achieving more rapid growth that is both inclusive and envrionmentally sustainable – allowing Turkey to escape the “middle income trap” and become a high-income country.
“Turkey has an agile, flexible and entrepreneurial private sector which has been a major driving force behind its growth. Since its first investment over half a century ago, IFC has supported Turkey’s private sector with US$ 14.2 billion in investments in more than 350 projects,” said Tomasz Telma, IFC Director for Europe and Central Asia. “Moving forward, to maintain the momentum and build on the economic successes of the past decades, Turkey needs to further develop its strengths and tackle its challenges increasing financial inclusion, global integration, and competitiveness. IFC is committed to help Turkey reach its development goals through consistent support to its private sector.”
The CPF is underpinned by the Systematic Country Diagnostics (SCD), the World Bank Group’s comprehensive analysis of the opportunities and challenges for Turkey. This document was prepared in close dialogue with the Government of Turkey and in consultation with representatives of civil society, the business community, think-tanks, academia, and other stakeholders, in order to identify development priorities and ensure broad-based participation in the implementation of the new CPF. The Country Partnership Framework provides a flexible framework, allowing the partnership to adapt to a changing country context and evolving government priorities.
For more information on the World Bank’s work in Turkey, please visit: http://www.worldbank.org/turkey
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