Türkiye and AIIB agree on 2027–2029 investment program on the sidelines of COP31 in Antalya

Agreement on a new financing program

Türkiye's Treasury and Finance Minister Mehmet Şimşek and the President of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi, held a meeting at which the details of a new multi-year investment program for 2027–2029 were finalized. The talks took place on the sidelines of the 31st UN Climate Change Conference (COP31), currently hosted by Türkiye in Antalya, Anadolu reports. The parties assessed the current rolling investment portfolio and agreed to link the bank's financing to Türkiye's structural and economic reforms.

Priority areas

According to Şimşek, the new phase of cooperation will focus on investments in railways and transport connectivity, green transformation, renewable energy and electrification, digital transformation — including 5G networks, fiber-optic infrastructure and data centers — as well as climate-resilient agricultural practices, medical technologies and high value-added industry. Zou Jiayi noted that the bank shares these priorities, especially in railway projects, including the Middle Corridor and regional networks, which are expected to strengthen connectivity between Asia and Europe. She also named renewable energy, agricultural irrigation and digital infrastructure as the bank's priorities and spoke positively of Türkiye's economic program, which, in her words, contributes to expanding the bank's local project portfolio.

Scale of cooperation and specific projects

The AIIB, headquartered in Beijing, operates with capital of $100 billion and unites 111 member countries; as of September, the bank had approved $78.1 billion in investments across 396 projects. Türkiye ranks tenth in share among the 57 founding countries: 2.5% of votes and a commitment of $2.6 billion. The bank has approved a total of $9.4 billion in financing for 45 projects in the country, making Türkiye the second-largest recipient of funds after India. The current project portfolio in Türkiye stands at $6.2 billion — 15.3% of the AIIB's global portfolio, also second place worldwide.

Composition of the new portfolio

The new multi-year investment portfolio includes both projects with a state guarantee and non-guaranteed private sector projects, with an emphasis on infrastructure. Among the named projects are the Istanbul Northern Railway Bypass (INRAIL) worth $1.5 billion, the modernization of TCDD railways for $415 million, the Antalya–Alanya highway for $156.1 million, a water resources climate resilience project for $500 million and an initiative to reduce seismic risk in Istanbul for $800 million. The publication does not provide details on the approval timelines for individual projects.