UK Prosperity Fund: Turkey

Supporting economic growth in Turkey and facilitating bilateral trade between Turkey and the UK

Prosperity Fund – Overall

Prosperity Fund programmes aim to remove barriers to economic growth, and promote economic reform and development to reduce poverty in partner countries. The Fund is particularly focused on SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

As well as contributing to economic development in recipient countries, we expect the reforms brought about by the programmes to create opportunities for international business including UK companies.

The Fund has developed a ‘Theory of Change’ see the 2018 to 2019 Prosperity Fund annual report to identify the key drivers of poverty reduction and ways in which the Prosperity Fund can help to address these. Five types of intervention have been identified:

  • investment in infrastructure and human capital
  • innovation and knowledge transfer, including low-carbon technology
  • trade, financial and economic reform
  • policy and regulatory capacity
  • ease of doing business

Turkey Prosperity Fund

The Prosperity Fund is active in Turkey since 2011 and aims to support the broad-based and inclusive growth in Turkey in partnership with key interlocutors of the country. The fund covers a number of sectors, including improving the Business Environment and increasing Trade and Investment opportunities, promoting Financial Services and Financial Markets; and developing Future Cities and the transition to a Low Carbon economy. Please see links below for the previous year’s priorities and projects.

2015-2016 Financial Year –Completed ODA Projects

2016-2017 Financial Year –Completed ODA and Non-ODA Projects

2017-2018 Financial Year –Completed Non-ODA Projects

PF Turkey Team

Jamie Banks - Prosperity Fund Portfolio Manager:

Hande Özüt - Turkey Programme Coordinator:

Zeynep Karamanlı - Future Cities Programme Manager:

Ecem Toprakseven – Global Trade Programme Manager:

İrem Kayhan- Financial Services Programme Manager:

Turkey PF Programmes

Turkish Economy presents huge potential; opportunities for sharing expertise, creating mutually beneficial partnerships and for businesses and trade to thrive. The Turkey Prosperity Fund strives for tapping this potential through country and global programmes summarized as below;

1.Turkey Country Financial Services Programme (£20mn)

This bilateral programme aims to provide economic opportunities to drive inclusive growth in Turkey. Programme activities will reform key components of the Financial Services industry, which underpin the capacity of the Turkish economy, at both macro and micro levels, and in turn promote inclusive growth to decrease the poverty levels that exist in Turkey, through:

  • Financial inclusion and access;
  • Capital markets development;
  • Strengthening the Financial Technologies (Fintech) ecosystem.

This programme is currently in design and we expect full implementation to start early 2019.

2.Global PF Programmes

As well as our Turkey Bilateral bid Turkey has an interest in a number of global programmes:

Future Cities Programme (overall global value £80mn – Turkey value £10mn)

The purpose of this programme is to increase prosperity and alleviate gender inequality while enhancing sustainable economic growth in urban areas, leading to mutually beneficial two-way increases in Future Cities trade. This will also support the implementation of the UN Sustainable Development Goals and New Urban Agenda. The programme covers 19 cities in 10 countries (Turkey, Brazil, South Africa, Nigeria, Indonesia, Malaysia, Philippines, Thailand, Vietnam and Burma).

It is focused on technical assistance (such as developing strategies, policies, road maps, plans, feasibility studies and capacity building), rather than funding capital investment projects related to transportation, urban planning, and resilience - with cross-cutting themes of smart technologies/data and project financing.

The selected cities in Turkey are Istanbul, Ankara and Bursa.

In Dec 2018, the programme completed the Strategic Development Phase, commissioned to UN-Habitat, where final interventions have been determined. Following the procurement process, the Delivery Partner for the programme activities in Turkey has been selected as Ove Arup and Partners International Ltd. The programme is now in a 3-month Inception Phase to elaborate project activities and work plan further with the key stakeholders.

Projects jointly determined and designed with stakeholders within the scope of the Programme are:

  • Transforming Bursa into a Smart City
  • Developing Sustainable Urban Transformation Approach for Bursa
  • Increasing Quality and Accessibility of Streets in Cankaya Neighbourhoods in Ankara
  • Bicycle Strategy, Master Plan and Pilot Implementation for Integrated Non-Motorised Multimodal Transport in Ankara
  • Sustainable Urban Mobility Plan (SUMP) for Istanbul
  • Urban Planning Training and Capacity Development Programme for Resilient Istanbul

The programme will continue with detailed technical work and extensive stakeholder engagement activities to develop strategies and plans, which support inclusive prosperity and sustainable economic growth in urban areas.

Global Trade Programme (overall global value £150 mn – Turkey value TBC)

The Programme will provide technical assistance and other support to facilitate free trade and open markets enabling greater investment and interaction with global value chains to create jobs and prosperity, thus reducing poverty. The programme will also facilitate market access for international business, including from the UK, as well as building bilateral partnerships on trade related issues with key emerging markets in support of the UK trade strategy. This Programme is yet to start in Turkey. A feasibility study will commence start of November 2018.

Business Environment Programme(overall global value £30 mn – Turkey value £3.5 mn)

This programme implemented by the World Bank (WB) will support the Government of Turkey to improve selected aspects of the investment and business environment. This will be done by strengthening linkages and technology transfer between domestic firms, universities, and foreign investors; enhancing the efficiency of business tax incentives; and other to-be-determined business regulations and practices for facilitating productive investments. The programme focus is currently being researched by WB as an initial part of the initiative.

3.Non-ODA PF Programme

Non ODA PF Programme supports the larger ODA global and bilateral PF programmes in design (Business Environment, Financial Services, Futures Cities and Global Trade), to help stimulate UK and Turkish markets in respective sectors. This smaller scale engagement will allow for continued engagement with key Turkish Government interlocutors and help smooth the path for the implementation of the larger scale ODA programmes. Activities are being implemented throughout the fiscal year. Please see below links for list of Non-ODA Projects

2018-2019 Financial Year –Completed Non-ODA Projects

2017-2018 Financial Year –Completed Non-ODA Projects

2016-2017 Financial Year –Completed ODA and Non-ODA Projects

Published 5 April 2013
Last updated 15 November 2019 + show all updates
  1. Future Cities Programme section is updated

  2. General information update

  3. Call for proposals closed

  4. New announcement added

  5. The deadline for submission of concept bids was changed from 19 December 2014 to 5 January 2015 following an extension.

  6. The deadline is changed

  7. First published.