Turker: 500 Million Dollars From World Bank On The Way

WASHINGTON - State Minister Masum Turker said on Tuesday that the World Bank will permit Turkey to use 500 million dollars earlier than scheduled to extend support to Istanbul approach until the end of this year.
Speaking in a news conference after meeting with World Bank President James Wolfensohn and IMF Managing Director Horst Koehler, Turker said that Turkish bureaucrats will start working with World Bank officials on Wednesday to extend support to Istanbul approach.
The 500 million dollars of credit constitutes part of the five billion dollars of World Bank's Country Assistance Strategy (CAS) credit to be given to Turkey between 2003-2006 June.
Turker said that the 500 million dollars will be transferred to this year rather than next year, therefore the credit will be used six months earlier.
Noting that the second part of the 500 million dollars of social risk reducing credits worth of 100 million dollars which will be used for education, will be transferred to Turkey until the end of this year. Turkey has received the first part worth of 100 million dollars of this credit.
Referring to his meeting with IMF Managing Director Koehler, Turker said that they reached a consensus of opinion with the IMF regarding the fourth review. Turker said that when the first review is completed, IMF Executive Board Directors would convene in the second half of November for 1,6 billion dollars of tranche, adding ''this was decided before the decision taken to hold early elections, but it won't convene in the second half of November due to the early elections.''
Turker said that the Turkish government and the IMF agreed to pass a number of regulations in the coming term due to the election environment, such as the tax reform, making the financial management transparent, and bankruptcy laws.
''The IMF and the World Bank is approaching Turkey with good intentions,'' he continued. ''They don't support strict policies for Turkey, they only want the strict implementation of the program. They recognize Turkey's good performance despite the ongoing election preparations.''
Turker also indicated that, as addition to the restructuring projects in Afghanistan, American Eximbank was planning to increase credit limits to Turkey. Turker said that Eximbank could offer credits especially in civil aviation field.
Stating that the IMF and the World Bank was not bothered by the election environment in Turkey.
When asked what kind of financial loss Turkey would suffer if the elections are not held on Nov. 3, Turker said, ''This would not have an economic cost on Turkey. We want to hold elections on the scheduled date. The only cost of postponing the elections would be the delaying of certain laws. People's confidence in politics would also be shaken.'' Commenting on the foreign investors' approach to Justice and Development Party (AKP), Turker said that the AKP was also a legitimate party like other political parties in Turkey and he was against treating the AKP differently in the pre-election process.
Turker said that his party, Democratic Left Party (DSP), had no problem related to the threshold and added, ''our party has most experienced and reliable leader Prime Minister Bulent Ecevit.''
Turker quoted U.S. Secretary of the Treasury Paul O'Neill as saying that he respected to Ecevit's insightful economical and political interpretations and foresightful attitude in his visit to the United States.
Turker said that he expected that the vote of DSP would not remain under 14 percent.
Upon the questions, Turker said that they did not discuss Iraq issue during his contacts in the United States.
He said, ''we don't want a war. Because we will have the biggest loss. Flow of refugees deepens unemployment problem socially and economically, especially in underdeveloped regions.''
Turker who wrapped up his contacts in the United States will depart from Washington on Tuesday.