The World Bank will provide $1 billion in financing to Turkey

The World Bank has raised its growth expectations for the Turkish economy

In the statement made by the World Bank, it was stated that the “Turkey Earthquake Resilience and Reconstruction Project” will assist in the restoration of health services and the reconstruction of damaged or destroyed municipal infrastructure.

The statement mentioned that the project activities will cover 11 provinces, which are the most affected by earthquakes and home to approximately 14 million people. Humberto Lopez, the World Bank’s Country Director for Turkey, expressed his views in the statement, stating, “The World Bank has been by Turkey’s side since the occurrence of earthquakes, sharing its experiences and expertise in disaster risk management and post-disaster reconstruction.”

In the statement, it was mentioned that we are well aware that the ongoing efforts following this massive destruction will take several years and require significant resources. We will be alongside Turkey in this journey and assist in the reconstruction of affected communities.”

The statement further highlighted that within the scope of the Turkey Earthquake Resilience and Reconstruction Project, $1 billion in financing has been approved, noting that this is the largest financing package the World Bank has provided to Turkey in a single instance.

It was emphasized that the main objectives of the project include the restoration of municipal infrastructure and health services, as well as the construction and improvement of rural housing.

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