Minister Şimşek: The main problem in climate finance is the lack of investable projects

Turkish Treasury and Finance Minister Mehmet Şimşek said developing countries need $1.8 trillion in annual climate finance, arguing that a significant share of the funding gap stems from a shortage of investable projects rather than a lack of capital. Speaking on climate investment priorities, Şimşek identified project preparation, efficient use of public resources and capacity building as the three core areas requiring focus. The remarks shift attention toward pipeline readiness as a binding constraint on closing the climate finance gap. What to watch next is whether Ankara and multilateral lenders translate the diagnosis into concrete project-preparation support and reforms to make public climate spending more effective.