Equipping the cities and territories
Supporting the energy transition
Sustainably valuing natural capital
Responding to societal challenges
An emerging country of 84 million inhabitants, endowed with a young and urbanized population, Turkey is the 19th economic power in the world. It enjoys a strategic position at the geographical and historical crossroads of Eastern and Western civilizations, one foot in Asia, another in Europe. Its relations with France are old and manifold and there is strong interdependence between Europe and Turkey.
Economic growth, which was rapid in the early 2000s, has been running out of steam for several years. It is the result of sustained demand, driven by the construction sector, major infrastructure and shopping centers, and household consumption, and it is fueled by a dynamic distribution of bank loans.
This development model is now showing its limits in terms of sustainability, with the deterioration of economic indicators: currency depreciation, inflation, a fall in purchasing power, household debt. As the 16th highest emitter in the world of greenhouse gases, while at the same time being home to a unique biodiversity, the impact of economic growth on the environment are visible (large fires, marine pollution, deadly floods).
Before the health crisis, political tensions and the Syrian crisis had already affected Turkey and reduced its ability to attract tourism and international investment. To meet these challenges, the country has embarked on the path of more balanced growth.
Present since 2004, AFD Group supports Turkey's efforts to ensure fair growth that respects the environment and takes climate issues into account, thanks to loans to the State, local authorities, companies and banks. The search for shared interests between France and Turkey, mitigation and adaptation to climate change and equality between women and men constitute the common denominator of the projects financed by the Group in Turkey. Accredited to manage European funds, AFD also contributes to European support for Turkish institutions in the management of refugees (European Union Facility for Refugees in Turkey).
In total, we have committed €3.8 billion in Turkey since 2004.
AFD's Turkey office is directly attached to the Eurasia regional office.