Türkiye receives $587 million in financing from the Asian Development Bank for earthquake recovery

Turkey has secured €500 million ($587.3 million) in financing from the Asian Development Bank (ADB) to support exporters affected by the February 2023 earthquakes in the country's southeast, according to the Treasury and Finance Ministry.

The financing will be used by the country's official export credit agency, TurkExim Bank, to meet the financial needs of exporters operating in the earthquake-hit area, the Caspian Post reported, citing Turkish media.

In addition, financing of €150 million ($176.1 million) and $150 million has been secured from the Asian Development Bank for use by the Turkish Development and Investment Bank in post-earthquake recovery, renewable energy investments, and providing cost-effective resources to enhance capacity.

The total earthquake financing Turkey obtained from the ADB amounted to about $1 billion, including the €150 million financing provided to Ankara-based investment bank Elbank on November 12, 2025.

Thus, about $8.4 billion in external financing has been secured for the earthquake-hit region in the southeast of the country since 2023.

Turkish Treasury and Finance Minister Mehmet Simsek said that Ankara obtained external financing worth $16.5 billion on favorable terms this year.

“Türkiye has broken a record in external financing, thanks in part to confidence in its economic program,” he said.

He added: “This financing will contribute to stimulating economic activity in the affected area, supporting sustainable growth, and enhancing production capacity – as we continue our work to help heal the earthquake-stricken area and we will continue to secure long-term and favorable resources for our affected businesses and to develop the area.”

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