World Bank Supports Turkey’s Earthquake Recovery with USD3 Billion in Aid

2025-02-06 08:10:39

(MENAFN) Since 2023, the World Bank Group has aided around 95,000 small- and medium-sized enterprises (SMEs) impacted by the earthquakes in southern Turkey through various projects.

In response to the Feb. 6, 2023, earthquakes that hit Kahramanmaras province, the World Bank Group swiftly mobilized resources to assist Turkey's recovery efforts. Their focus has been on rebuilding critical infrastructure and supporting small businesses, with over USD3 billion in assistance channeled into these recovery initiatives.

Among these efforts, two World Bank-funded projects totaling USD1.45 billion will help restore damaged infrastructure and build 7,000 housing units for the rural population.

The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group entity, has also extended a USD952 million guarantee to fund the construction of six new hospitals in the region. These hospitals are being designed to withstand potential future earthquakes.

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