Türkiye has secured about $2.4 billion in financing from abroad amid efforts to address the aftermath of the devastating earthquakes that ripped through the country’s southeastern region in early February, a senior official said Wednesday.
The funding, sourced from various international banks, including the European Bank for Development, World Bank, European Investment Bank, Islamic Development Bank and the Asia Infrastructure Investment Bank, aims to facilitate the reconstruction and development of the regions impacted by the disaster.
Two major quakes on Feb. 6 devastated 11 southern and southeastern Turkish provinces, claiming the lives of more than 50,000 people and damaging or destroying hundreds of thousands of buildings across several cities.
Reconstruction is expected to cost more than $100 billion. Türkiye said it aimed to build 319,000 homes in the first year.
Treasury and Finance Minister Mehmet Şimşek emphasized the ongoing efforts to secure external funding for repairing damages caused by the Kahramanmaraş-centered tremors and the subsequent reconstruction of the affected areas.
Şimşek highlighted that the Asia Infrastructure Investment Bank had provided a $100 million financing package to the Türk Eximbank. This funding is earmarked for supporting export-oriented businesses in the affected provinces, specifically focusing on repairing and enhancing infrastructure.
“We have also secured $100 million in financing from the Islamic Development Bank to Türkiye Development and Investment Bank,” the minister told Anadolu Agency (AA).
He said this fund would be utilized to finance agricultural products and food security projects directed toward businesses in earthquake-affected regions.
“We have secured approximately $2.4 billion in foreign financing this year from various international institutions, including the European Bank for Development, World Bank, European Investment Bank, Islamic Development Bank and the Asia Infrastructure Investment Bank,” said Şimşek.
“We will steadfastly continue our efforts to secure suitable conditional external financing both by the end of this year and into the next. With these financial resources, we aim to support export-oriented businesses, agricultural products, and food security projects of enterprises in the provinces impacted by the earthquake.”
Şimşek earlier said the European Investment Bank had pledged some 400 million euros ($431,53 million) in financing to address quake-related challenges and contribute to the reconstruction of cities.
In March, an EU-led international donors’ conference raised more than 6 billion euros in grants and loans for Türkiye, much of which came from the European Commission, EU member states and the European Investment Bank.
Source: Daily Sabah
