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The Republic of Turkey became a member of the Bank Group in 2013. As the 26th State Participant to the African Development Fund, Turkey participated in the discussions on the 14th replenishment of the Fund held during of 2016.
Relations between Africa and Turkey have reached the stage of strategic partnerships. Based on “Turkey-Africa Joint Implementation Plan 2015-2019” and in accordance with the Istanbul Declaration of the First Africa-Turkey Cooperation Summit of August 19, 2008, the Republic of Turkey has developed partnerships with African countries in institutional cooperation, trade and investment, health, infrastructure, energy, agriculture, rural development, and small and medium scale enterprises.
As an emerging donor country, Turkey’s approach is based on a combination of humanitarian and development assistance drawn from its own economic and social development experience. In line with its increasing diplomatic presence in Africa, Turkey has opened commercial consulates in several African capitals. In addition, the Turkish Foreign Economic Relations Council established business councils with many Sub-Saharan African countries. Turkey has also signed Trade and Economic Cooperation Agreements with 38 African countries in line with its efforts to establish a sound contractual basis for mutual economic relations.
The Bank, together with the Under Secretariat of the Turkish Treasury and Foreign Economic Relations Board of Turkey organized its first Business Opportunities Seminar (BOS) in Istanbul on January 28, 2016, to strengthen partnerships between the Bank and stakeholders in Turkey through a comprehensive learning event about the Ban and to provide a forum for one-on-one discussion with Bank experts/professionals on all aspects of the Bank and its operations. A multi-sectoral delegation from the Bank participated in this very successful event, at which many private companies and stakeholders participated.
The Bank initiated technical cooperation with the Turk Eximbank by organizing an information-sharing event in Abidjan in April 2018. This gave the two parties an opportunity to exchange and learn more about their respective mandates, due diligence processes, governing rules and procedures. Members of the Eximbank delegation expressed a strong interest in benefiting from the Bank’s knowledge and its status as a premium financial institution in Africa by establishing effective cooperation in public-private partnerships, private sector project, risk assessment of commercial banks, trade finance, and project co-financing.
The Bank has issued numerous bonds denominated in Turkish Lira, and has raised TRY 1,337.4 million since 2009 through 44 transactions. Turkey’s consent to issue bonds denominated in Turkish Lira was received in March 2014.