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Turkey & AIIB Ink Green Deal
4 Sep
Summary
- Turkey and AIIB signed an agreement for environmental investments.
- The first phase targets Marmara region with €400 million.
- Focus is on wastewater treatment and combating sea snot.
Turkey and the Asian Infrastructure Investment Bank (AIIB) have formalized a partnership aimed at advancing environmental investments and climate change efforts. The agreement's initial phase will direct around €400 million towards critical projects in Turkey's Marmara region.
This substantial funding is primarily earmarked for establishing advanced biological wastewater treatment facilities. The goal is to significantly support the cleaning of the Sea of Marmara and combat the proliferation of marine mucilage, commonly known as 'sea snot,' which poses a severe threat to the ecosystem.
The cooperation, signed on the sidelines of the Climate Finance Summit in Istanbul, was executed by Environment Minister Murat Kurum and AIIB Vice President Ajay Bhushan Pandey. Turkey represents one of the AIIB's significant investment destinations, highlighting the bank's commitment to the region's sustainable development.
