World Bank Funds $410M Türkiye Youth Skills & Labor Market Project
World Bank Approves Nearly $410M for Youth Training in Türkiye
ANKARA – The World Bank has approved €350 million (approximately $410 million) in financing to support youth skills training and improve labor market readiness in Türkiye, the Treasury and Finance Ministry announced.
The funding will support the Türkiye Education for Labor Market Readiness Project, which will be implemented by the Ministry of National Education.
Project Objectives and Implementation
The project aims to equip young people with skills needed for employment through three key focus areas:
- Enhancing learning environments
- Strengthening teachers' professional capacities
- Expanding cooperation with the private sector
“Strengthening education and equipping young people with labor market skills will contribute directly to productivity growth,”
stated Treasury and Finance Minister Mehmet Şimşek. He emphasized that the project aligns with Türkiye’s Medium-Term Program, which prioritizes sustainable growth and social welfare. Minister Şimşek added that cooperation between Türkiye and the World Bank is expected to continue in the coming period.
Annual Financing Context
With this latest approval, the total amount of World Bank financing secured by Türkiye in 2025 has reached a significant $4.6 billion, underscoring a strong and ongoing partnership focused on critical development initiatives.
