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World Bank Commits Millions to Boost Istanbul’s Disaster Preparedness
(MENAFN) The World Bank has formalized a €554.4 million ($642.6 million) financing deal with Türkiye for the Istanbul Resilience Project, which received approval earlier this year.
The initiative aims to enhance the megacity’s ability to prepare for and respond to disasters while also constructing public buildings that are both disaster-resistant and energy-efficient.
The Istanbul Governor’s Office’s coordination unit will oversee the implementation of the project. With this agreement, the total external financing provided to Türkiye by international organizations has now reached approximately $14.7 billion in 2025.
Funding allocated specifically for Istanbul’s disaster readiness, including the World Bank’s loan, has reached $1.9 billion. Meanwhile, investments for rebuilding areas affected by earthquakes in the country’s southeast have totaled $7.5 billion.
Turkish Treasury and Finance Minister Mehmet Simsek highlighted that Türkiye’s long-term collaboration with the World Bank has led to considerable advancements.
“We have made significant progress in disaster risk reduction, climate change adaptation, and sustainable urbanism,” he stated.
He added, “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 our Medium-Term Program.”
The initiative aims to enhance the megacity’s ability to prepare for and respond to disasters while also constructing public buildings that are both disaster-resistant and energy-efficient.
The Istanbul Governor’s Office’s coordination unit will oversee the implementation of the project. With this agreement, the total external financing provided to Türkiye by international organizations has now reached approximately $14.7 billion in 2025.
Funding allocated specifically for Istanbul’s disaster readiness, including the World Bank’s loan, has reached $1.9 billion. Meanwhile, investments for rebuilding areas affected by earthquakes in the country’s southeast have totaled $7.5 billion.
Turkish Treasury and Finance Minister Mehmet Simsek highlighted that Türkiye’s long-term collaboration with the World Bank has led to considerable advancements.
“We have made significant progress in disaster risk reduction, climate change adaptation, and sustainable urbanism,” he stated.
He added, “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 our Medium-Term Program.”
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