Türkiye, IsDB sign $200 mln deal for quake recovery

ISTANBUL

The Development and Investment Bank of Türkiye (TKYB) and the Islamic Development Bank (IsDB) Group has signed a $200 million financing agreement to support Türkiye’s post-earthquake recovery efforts.

Deputy Treasury and Finance Minister of Osman Çelik and Muhammad Al Jasser, the president of the IsDB witnessed the signing of the landmark financing deal in Istanbul on Dec. 5.

The financing will support Türkiye's post-earthquake recovery efforts and revitalization of the agri-food sector in the most affected provinces, said the IsDB on the social media platform X.

The key areas of focus include rebuilding critical infrastructure, enhancing processing and distribution capabilities, implementing innovative agricultural technologies to boost productivity and sustainability, it noted.

Al Jasser and Osman Çelik, who is also the IsDB executive director, met to review the IsDB portfolio in Türkiye.

They also discussed ways to enhance development cooperation, the development bank said.