Turkey secures $200M in aid from Islamic Development Bank for earthquake recovery
The Islamic Development Bank (IsDB) Group and the Development Investment Bank of Türkiye (TKYB) inked a $200 million financing deal on Tuesday.
This agreement is aimed at bolstering the recovery efforts in Turkey’s southern region, which was severely impacted by recent earthquakes.
The IsDB Group announced that the funding would significantly aid Turkey's post-earthquake recovery, with a particular focus on revitalizing the agri-food sector in the hardest-hit provinces.
TKYB highlighted the agreement's intent to integrate innovative agricultural technologies. These efforts are designed to reconstruct the agricultural infrastructure, enhance food production activities, and advance sustainable development initiatives in the affected areas.
In early February, two devastating earthquakes struck 11 provinces in southern Turkey, resulting in widespread destruction and the tragic loss of tens of thousands of lives.
