World Bank approves $500 mln for quake-hit regions

ANKARA

Türkiye has secured a $500 million loan from the World Bank to bolster employment in its earthquake-stricken regions, part of ongoing efforts to channel long-term external funding to disaster zones, the Treasury and Finance Ministry announced.

The ministry, as reported by Anadolu Agency, confirmed that the World Bank’s Executive Directors Board greenlit the second phase of the “Registered Employment Creation Project” on April 1, 2025. The funding, guaranteed by the ministry, will flow through the Development and Investment Bank of Türkiye (TKYB) to support small and medium-sized enterprises (SMEs) as well as larger firms in 18 provinces.

The initiative targets 11 provinces hit by the Feb. 6, 2023, Kahramanmaraş-centered earthquakes — Adana, Adıyaman, Diyarbakır, Elazığ, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye and Şanlıurfa — alongside seven neighboring provinces: Batman, Bingöl, Kayseri, Mardin, Niğde, Sivas and Tunceli. The goal is to preserve jobs and create new opportunities by offering long-term financing to businesses in these areas.

Treasury and Finance Minister Mehmet Şimşek emphasized the government’s commitment to rebuilding the region.

“Since the 2023 earthquakes, we’ve ramped up reconstruction efforts,” he said. “We’re prioritizing initiatives to ease the disaster’s economic toll and speed up recovery.”

Şimşek highlighted the ministry’s collaboration with international bodies.

“Our economic program aims for lasting prosperity through value-added investments, increased production and exports, and stronger employment,” he added. “We’re pressing ahead with these efforts decisively.”