The World Bank has announced its approval of $1bn in financing to assist Turkey in the reconstruction of rural housing and essential public services in earthquake-affected regions.
The World Bank highlighted that the “Turkey Earthquake Resilience and Reconstruction Project” will contribute to the restoration of healthcare services and the reconstruction of damaged or destroyed municipal infrastructure.
The project aims to cover 11 provinces, which have been most severely impacted by the earthquake and where approximately 14 million people reside.
World Bank Turkey earthquake
According to Turkish news agency (Anadolu), the World Bank’s Country Director Humberto Lopez, expressed the institution’s commitment to stand with Turkey, sharing its expertise and experience in disaster risk management and post-disaster reconstruction.
Relatedly, the World Bank announced a $450m project to help avert the closure and maintain employment in viable micro, small and medium enterprises (MSMEs) affected by the economic shocks of the earthquakes that hit the South East of the country on February 6, 2023.
The project’s objective is to support business continuity and sustainable growth of viable MSMEs in the 11 earthquake-affected provinces.
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