site.btaWorld Bank Approves USD 1 Bln For Turkiye to Help Rebuild Areas Affected by February Earthquakes

The World Bank approved Monday USD 1 billion in financing to support Türkiye’s efforts to restore the areas affected by the devastating earthquakes that struck the southeastern part of the country on February 6, the Minister of Environment, Urbanization and Climate Change Mehmet Özhaseki said, as quoted by NTV TV on Monday.

The loan will be disbursed under the Türkiye Earthquake Recovery and Reconstruction Project.

Özhaseki said that it will be crucial to the recovery of the quake-stricken region.

A significant part of the support, amounting to USD 684.8 million, was allocated to the Ministry of Environment, Urbanization and Climate Change, the daily Hürriyet reports.

USD 296,5 million will be allocated for the realization of the Ministry’s rural housing projects in the quake-stricken area, and USD 388.3 million will be allocated to infrastructural projects.

On February 6, Southeastern Türkiye was struck by two devastating earthquakes with a magnitude of 7.6 and 7.7, respectively, which claimed over 50,000 lives.