Competitiveness and Savings Development Policy Loan (CSDPL)

closed

Closed

Turkey's rapid growth and development over the past decade is one of the success stories of the global economy. Further enhancing the economy's potential over the medium term and reaching high-income status will require more structural reforms, particularly at the micro level, to bolster competitiveness and boost private savings. This document describes a Euro 624.1 million (USD 800 million equivalent) Competitiveness and Savings Development Policy Loan (CSDPL) to Turkey. It is a one-tranche stand-alone operation. The objective of the program supported by the proposed operation is to facilitate Turkey's growth to high-income status by bolstering competitiveness and boosting domestic savings, thus reducing external vulnerabilities over the medium term. This operation is a critical part of the new Country Partnership Strategy (CPS), which was endorsed by the Executive Board on March 27, 2012. The DPL will contribute to the following expected CPS outcomes under the competitiveness pillar: (i) sustained macroeconomic and financial stability and strengthened exports, domestic savings, and external resilience and (ii) improved investment and business climate; deepened and broadened access to finance. The operation will also contribute to deepening reforms for improved competitiveness, one of the main strategic priorities in the 2012 Europe and Central Asia (ECA) regional strategy.

FY17 - Financial Sector,FY17 - Industry, Trade and Services,FY17 - Social Protection

World Bank Group

Project

Government