Loans   International Relations

2/28/2025

Türkiye Earthquake Rescue and Restructuring Project

For project whose total cost set to be USD1 billion, World Bank plans to confirm USD 415 million financing under the approval of Board of Directors on 6 March 2025...

World Bank plans to confirm USD415 million financing on 6 March 2025 under the approval of Board of Directors within the context of Türkiye Earthquake Rescue and Restructuring Project.

The aim of the Project seems to re-secure access to basic municipality and health services and to provide sustainable houses in selected provinces affected from earthquake occurred in Türkiye in February 2023. The implementers of the Project are the Ministry of Environment, Urbanization and Climate Change, the Ministry of Health and the Bank of Provinces.

Project total cost set to be USD1 billion, in the Project, International Bank of Reconstruction and Development (IBRD), France Government (MOFA and AFD) committed to extent USD207,5 million financing and USD 207,5 million (IBRD-IDA) donation. IBRD has reached the final stage for USD 415 million financing.

As it might be recalled, World Bank Türkiye Country Director Humberto Lopez had reported that along with USD 3 billion source extended to earthquake region in Türkiye, an additional source of USD 1 billion was spared for this year TEBA:2204/ January 16, 2025.