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Saudi Arabia Finalizes $5 Billion for Turkey to Bolster Economy

The agreement to deposit $5 billion at the Turkish central bank is expected to provide a boost for Recep Tayyip Erdogan. — The agreement to deposit $5 billion at the Turkish central bank is expected to provide a boost for Recep Tayyip Erdogan.
Photographer: Adem Altan/Getty Images

By

Kateryna Kadabashy and

March 6, 2023, 9:52 AM UTCUpdated onMarch 6, 2023, 10:25 AM UTC

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Saudi Arabia finalized an agreement to deposit $5 billion at the Turkish central bank, moving forward with a pledge made last year that is expected to provide a major boost for President Recep Tayyip Erdogan.