Alaturka Ekonomi Haberleri

By Muhammet Emin Avundukluoglu

ANKARA (AA) – Turkey will restructure the country’s development bank, the ruling party’s deputy group chair said on Friday.

Justice and Development (AK) Party submitted on Friday a new bill on restructuring of the Development Bank of Turkey to the parliament.

“Development Fund of Turkey will be established under the Development Bank of Turkey, ” Mehmet Mus, the party’s deputy group chair, told reporters.

Mus said that Turkey's strategic and development plans will be financed with the development fund.

“[The fund] will make contribution to Turkey's economic growth and manufacturing industry, ” he added.

Mus said that the bank would also play an important role in financing the strategic sectors.

The bill will be debated in the parliament after it is re-opened on Oct. 1 for new legislative session.