$1.78 billion Fund News from the World Bank to Turkey. Last minute WORLD, ECONOMY, CURRENT, TURKEY, news headlines and events
It was reported that the World Bank will provide $1 billion 780 million to support reconstruction efforts after the earthquake and aftershocks, which caused great loss of life, injuries and severe damage in Turkey’s southeastern provinces.
The statement noted that the World Bank has also launched a rapid assessment to determine the extent of damage caused by the disaster. Accordingly, the assessment will include prioritization of regions to be supported for recovery and reconstruction, based on the World Bank’s extensive experience in disaster risk management around the world.
World Bank President David Malpass said: “On behalf of the World Bank Group, we express our deepest condolences to the people of Turkey and Syria for the heavy losses they have suffered as a result of the devastating earthquakes. We are preparing and providing immediate assistance for a rapid assessment of basic and urgent needs in this area. “This assessment will identify priority areas for recovery and restructuring efforts in the country as we prepare to meet the needs.”
The World Bank noted that US$780 million in emergency assistance was provided through the Turkish Earthquake, Flood and Wildfire Recovery Project (TEFWER) and the Conditional Emergency Response Component (CERC) under the Resilient Cities project. climate and natural disasters”, two existing projects in Turkey. . . . The Conditional Emergency Response Component (CERC) provides recipient countries with rapid access to project funds for emergency response. It is noted that this assistance will be directed to the construction of basic infrastructure on a municipal basis.
The World Bank said an additional $1 billion in aid has been prepared to support those affected by the earthquake.
Humberto Lopez, World Bank Country Director for Turkey, said: “Turkey’s immediate and future needs are enormous. “These needs range from emergency relief to reconstruction,” he said.
World Bank Activities in Turkey
The World Bank’s partnership with Turkey dates back to the 1950s. In recent years, the World Bank has become one of Turkey’s leading partners in disaster risk management, urban development and energy efficiency. The Istanbul Seismic Risk Reduction and Emergency Preparedness Project, the Safe Schools Project, and the School Disaster Risk Management Project are just some of the studies initiated by the World Bank in Turkey in recent years. The World Bank program in Turkey is currently supporting 30 active operations worth $9 billion.
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