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

0 192

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.

You might also like