Int'l financing to recover the Türkiye earthquake is $ 6.4 billion

A new $ 500 million financing package was signed between the World Bank and the Development and Investment Bank in Türkiye (TKIB) through the Ministry of Treasury and Finance initiatives to support companies in the areas affected by the earthquake, according to Monday's report.

The report said this brought the total international financing to the regions affected by the devastating earthquakes that struck Torke in early 2023 to 6.4 billion dollars.

According to the information obtained by the Anadolu correspondent (AA), the ministry continues to secure funding from abroad to the areas affected by earthquakes that occurred on February 6, 2023.

Accordingly, TKIB Financing Agreements were signed under the formation of the official recruitment-which was developed to support economic recovery and increase employment in the areas affected by the earthquake that was approved by the World Bank Board-on May 23.

As part of this, the $ 500 million in financing will be directed to companies operating in 11 provinces: Dania, Adaman, Diyarbakir, Elazig, Gaziante, Hatay, Kahramanmaras, Kelis, Maleisa, Osmanani, and Sanliarfa, as well as seven Anfam.

The project aims to maintain current jobs and create new job opportunities by meeting investment needs and working capital for regional companies.

With the signing of this project, the total amount of international financing for earthquake affected on February 6 reached 6.4 billion dollars. Of this amount, approximately $ 2.4 billion is used to support the real sector and exporters.

The Minister of Treasury and Finance, Mohamed Shamiki, stressed that, within the framework of the economic program, they give priority to the policies that support employment, encourage added production and increase access to financing under favorable circumstances.

“In this regard, guaranteed resources are directed through strong cooperation with international organizations effectively to the real sector and contribute to the goal of sustainable growth,” he said.

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