World Bank approves $1bn to restore Turkiye’s earthquake-hit areas

Last updated Jul 1, 2023

A youth on his bicycle looks for belongings as the rubble of his house are being removed, two months after a 7.8-magnitude jolt and its aftershocks wiped out swathes of Turkey's mountainous southeast, in Antakya on April 5, 2023. - Many of the survivors blamed the government and its stuttering response to Turkey's worst disaster of its modern era for a death toll that has now surpassed 50,000. But that fury is gradually giving way to a mixture of fatalism and reviving trust in the man this province gave three-fourths of its votes to in the last general election in 2018. (Photo by OZAN KOSE / AFP)

The World Bank has approved $1 billion in financing to Turkiye for the rehabilitation of rural homes and key public services in earthquake-affected areas.

The World Bank said in a statement on Wednesday that the Turkiye Earthquake Resilience and Reconstruction Project will help restore healthcare services and rebuild damaged or destroyed municipal infrastructure.

The project seeks to help 11 provinces worst hit by the earthquake and home to almost 14 million people.

According to the Turkish News Agency, Humberto Lopez, the bank’s country director for Turkiye, expressed the institution’s commitment to stand by Turkiye, offering its expertise and experience in disaster risk management and post-disaster rehabilitation.

The bank also announced a $450 million effort to help avoid closure and retain employment in viable micro, small, and medium-sized businesses affected by the economic impact of the earthquake.

The project’s goal is to help viable SMEs in the 11 earthquake-affected regions maintain and expand their businesses.