(MENAFN) The World Bank has finalized a €554.4 million ($642.6 million) financing agreement with Türkiye to bolster Istanbul's disaster readiness infrastructure, targeting the construction of earthquake-resistant, energy-efficient public facilities throughout the sprawling metropolis.

Implementation of the Istanbul Resilience Project—greenlit earlier this year—will fall under the jurisdiction of the Istanbul Governor's Office's coordination unit. The initiative aims to fortify the megacity's emergency response capabilities and disaster preparedness systems across all districts.

This latest commitment pushes Türkiye's total external financing from international institutions to approximately $14.7 billion in 2025 alone.

Disaster preparedness funding specifically allocated to Istanbul, including the World Bank's current loan package, has now reached $1.9 billion cumulatively.

Meanwhile, reconstruction efforts in Türkiye's earthquake-devastated southeastern region have drawn $7.5 billion in total financing.


Turkish Treasury and Finance Minister Mehmet Simsek stated that the long-standing cooperation between Türkiye and the World Bank has resulted in significant progress.

"We have made significant progress in disaster risk reduction, climate change adaptation, and sustainable urbanism," he said.

"Our strong support for public investments aimed at enhancing Istanbul's preparedness against earthquakes, disaster management capacity, and urban resilience will continue in line with o," Simsek added, emphasizing the partnership's ongoing momentum in climate resilience and urban sustainability initiatives.

The financing package represents a critical investment in protecting Istanbul's 16 million residents against seismic threats in one of the world's most earthquake-prone metropolitan areas.

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