Turkey, AIIB sign cooperation deal, first focus on marine cleaning, minister says

Turkey has signed a cooperation agreement with the Asian Infrastructure Investment Bank (AIIB) to back environmental investments, urban infrastructure and climate-change efforts, Environment Minister Murat Kurum said on Friday. Kurum said the first phase will focus on cleaning up the Marmara region through an investment package worth around €400 million ($465 million). He said the funds are aimed mainly at advanced biological wastewater treatment facilities to help combat marine mucilage, known locally as “sea snot.” Kurum did not outline further phases or total funding. The deal was signed in Istanbul alongside the Climate Finance Summit ahead of COP31 in November, with AIIB Vice President Ajay Bhushan Pandey.