World Bank to provide Turkey $1.78b in earthquake relief financing


FE Team | Published: February 10, 2023 20:02:24 | Updated: February 12, 2023 19:37:00


World Bank to provide Turkey $1.78b in earthquake relief financing

The World Bank has said it is providing Turkey with $1.78 billion in relief and recovery financing assistance as the country struggles with the aftermath of an earthquake that has killed over 20,000 people and left hundreds of thousands homeless, reports Reuters.

The World Bank on Thursday said in a statement that $780 million will become available for Ankara immediately, as the funds will be diverted from two existing World Bank loan projects in Turkey.

Another $1 billion in assistance for Turkey’s recovery and reconstruction is also being prepared but will take more time to arrange, a World Bank spokesperson said.

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