Türkiye and the Asian Infrastructure Investment Bank have signed a deal to fund environmental and urban infrastructure projects, starting with a 400 million euro initiative in the Marmara region.

Türkiye has entered into a cooperation agreement with the Asian Infrastructure Investment Bank (AIIB) to support climate change efforts, urban infrastructure, and environmental investments. Environment, Urbanization and Climate Change Minister Murat Kurum and AIIB Vice President Ajay Bhushan Pandey signed the deal on Friday during the Climate Finance Summit in Istanbul.

Focus on Marmara Sea Cleanup

The initial phase of the agreement targets environmental projects in the Marmara region with an investment package of approximately 400 million euros, or $465 million. Minister Kurum stated that these funds will primarily support the development of advanced biological wastewater treatment facilities. These efforts aim to address pollution in the Sea of Marmara, which has previously suffered from outbreaks of marine mucilage, commonly known as sea snot. This substance has posed threats to both the local fishing industry and marine life in the region.

Strategic Infrastructure Goals

Beyond the immediate cleanup efforts, the agreement focuses on strengthening environmental infrastructure and increasing wastewater treatment capacity. While the initial investment for the Marmara region was announced, officials did not provide details regarding future phases of the cooperation or the potential total value of the partnership. AIIB Vice President Ajay Bhushan Pandey noted that Türkiye remains one of the bank's largest investment destinations.