World Bank approves $500 million loan for Turkey

ANKARA (AA) – The World Bank has approved a $500 million loan to Turkey to support economic growth. In a statement on Friday, the bank's director for Turkey, Martin Raiser, said: "Turkey's growth record over the past decade has been inclusive, however, these gains are at risk in a less accommodating international environment. "With this DPL [Development Policy Loan], the World Bank supports structural reforms that aim to ensure Turkey's success in raising incomes, creating jobs, and building sustainable infrastructure continues." The loan is the first of two to be used to boost reforms, enhance competitiveness, improve transparency and sustain job creation while developing an attractive framework for long-term investment.