$1 billion financing from the World Bank to Turkey

The World Bank has approved $1 billion in financing for Turkey to help rebuild rural housing and basic public services in earthquake-affected areas. The World Bank announced that the “Turkey Earthquake Recovery and Reconstruction Project” will help restore health services and rebuild damaged or destroyed municipal infrastructure. The statement noted that the project activities will cover 11 provinces most affected by the earthquake, home to approximately 14 million people, and included the following statements: “The World Bank has been with Turkey since the earthquakes and shares its experience and expertise in disaster risk management and post-natural disaster reconstruction. We know well that ongoing efforts in the wake of this massive devastation will take several years and require significant resources. We will be with Turkey on this journey and will help rebuild the affected communities.” The statement noted that $1 billion in financing had been approved within the scope of the Turkey Earthquake Recovery and Reconstruction Project, and that this was the largest single financing package provided by the World Bank to Turkey. It was noted that the main objectives of the project included the re-establishment of municipal infrastructure and health services, as well as the construction and improvement of rural housing.