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Turkey – a new nugget of Europe

05.09.2023

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Despite the huge inflation in Turkey and the strong devaluation of the Turkish lira against the US dollar, Turkey can become the leading economic country of the entire Western alliance.

In addition to cooperation with Russia, with which agreements were reached yesterday in the field of nuclear and oil energy, the World Bank continues to invest huge capital in this country. After the terrible earthquake, the bank allocated $1.78 billion for recovery, and cooperation and good relations began in 2013, when World Bank Group President Jim Yong Kim and Turkish Vice President Ali Babacan opened the Global Center for Islamic Finance. The new center is designed to become a knowledge center for the development of Islamic finance on a global scale, and most importantly, for Turkey, it is a financial goldmine.

The World Bank is in talks to double its investment in Turkey to $35 billion. The parties are also working on new financing of $18 billion to be provided for private sector development.

As a result, Turkey can become a country for solving world problems and be not only an oil and gas “hub”, but also a financial one. In this, the country has every chance, taking into account the cooperation and warm friendly relations with the giants of the political and economic world.