The World Bank Group has approved a $750 million financing package for a major agrifood transformation project in Türkiye that is expected to benefit around 225,000 farmers, support 110,000 jobs and mobilise $670 million of private capital by 2032.
The Türkiye Agrifood Sector Transformation for Rural Jobs and Growth (TARGET) Project will expand access to finance for farmers, producer organisations and agrifood businesses while supporting investment in processing, storage, cold-chain infrastructure, logistics, digital systems and climate-resilient technologies.
The programme will be implemented by Türkiye’s Ministry of Agriculture and Forestry through the Agriculture and Rural Development Support Institution (TKDK).
TARGET is the first operation under the World Bank Group’s wider Europe and Central Asia AgriConnect Program, a multi-country initiative intended to increase investment and market integration across regional agrifood systems.
$720m facility to support agrifood investment
The project combines two financing mechanisms intended to use public funding to attract additional private investment.
A $720 million Reimbursable Finance Facility will provide long-term financing to agrifood enterprises and producer organisations undertaking investments designed to strengthen value chains.
Eligible areas will include climate resilience, food safety and quality systems and projects connecting farmers with domestic and international markets.
Investments supported through the facility are expected to attract a further $144 million in private co-financing.
A separate Partial Credit Guarantee scheme, backed by $30 million of World Bank financing, will seek to reduce lending risks for participating financial institutions and expand farmers’ access to commercial finance.
The guarantee mechanism is expected to mobilise approximately $526 million in commercial lending for investment in productivity, modernisation and climate-resilient technologies.
Together, the two mechanisms are expected to generate approximately $670 million of private capital.
225,000 farmers expected to benefit
By 2032, around 225,000 farmers are expected to benefit from TARGET, including approximately 193,000 participating in stronger commercial market arrangements.
A further 26,300 farmers are expected to gain expanded access to finance.
The World Bank estimates that the project will generate 110,000 more and better-paid jobs across Türkiye’s agrifood economy, including opportunities for women and young people and in less-developed regions.
Jean-Christophe Carret, World Bank Country Director for Türkiye, said: “TARGET will help farmers, producer organizations, and agribusinesses access the financing, technology, and market opportunities they need to thrive in a changing economic and climate environment.
“By mobilizing private capital alongside public resources, the project will support rural jobs, improve productivity, and help position Türkiye as an even stronger player in regional and global agrifood markets.”
Infrastructure and technology investment planned
The project has been designed to address constraints including fragmented production and value chains, limited availability of long-term finance and insufficient investment in logistics and value-added activities.
Supported investments will include processing facilities, cold chains and storage infrastructure alongside digital systems and precision agriculture technologies.
TARGET will also seek to improve coordination between farmers, producer organisations and agrifood enterprises, strengthen product quality and traceability and help businesses comply with domestic and international market standards.
Climate resilience forms another component of the programme. Investment will support climate-smart production systems and technologies designed to increase resilience to drought, heatwaves, water scarcity, frost and other climate-related events.
Measures to reduce food loss and waste will also be supported, with the World Bank expecting the programme to contribute to greenhouse gas emissions reductions over a 20-year period.
The International Finance Corporation will work alongside the World Bank through advisory support and investments intended to strengthen agribusiness capabilities and access to finance.
As the first AgriConnect operation in Europe and Central Asia, TARGET will also provide an initial implementation model for the World Bank Group’s wider regional programme to mobilise investment, strengthen agrifood value chains and support employment.
