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The Development and Investment Bank of Türkiye (TKYB) and the Islamic Development Bank (IsDB) Group has signed a $200 million financing agreement to support Türkiye's post-earthquake recovery efforts.

Deputy Treasury and Finance Minister of Osman Çelik and Muhammad Al Jasser, the president of the IsDB witnessed the signing of the landmark financing deal in Istanbul on Dec. 5.

The Islamic Development Bank (IsDB) and Türk Eximbank signed a syndicated murabaha (interest-free) deal of $100 million to finance small and medium-sized enterprises (SMEs), and middle capitalization companies (MidCaps) in Turkey.

The Islamic Development Bank (IsDB) and Islamic Solidarity Fund for Development (ISFD) will hold a meeting to tackle poverty beginning next week, the groups said Aug. 30.

Turkey and the Islamic Development Bank (IsDB) Group enjoy "a very strong partnership," the group's president said.

The development model of the Muslim world, which currently heavily relies on state institutions, must be changed, the president of the Islamic Development Bank (IsDB) said on April 4.

The Islamic Development Bank (IsDB) has said it agreed to loan $270 million to Turkish Eximbank in a statement on Dec. 30. 

The loan is to finance Turkish export companies and it will be guaranteed by the treasury.

Turkish Eximbank is the official export credit agency of the Turkish government.