Aftermath of Earthquake: World Bank Announce $1.78b Assistance to Turkey
The World Bank announced today $1.78 billion in assistance to help relief and recovery efforts following devastating earthquakes and after shore construction that have already resulted in massive loss of life, injuries, and very significant damages in and around southeastern Türkey.
The World Bank has also commenced a rapid damage assessment to estimate the magnitude of the disaster and identify priority areas for recovery and reconstruction support, building on its extensive experience in disaster risk management from around the world.
This was contained in a statement by the President of the World Bank Group, David Malpass on Thursday, February 9, 2023.
“On behalf of the World Bank Group, we express our deepest condolences to the people of Türkiye and Syria for the great loss you have suffered as a result of the devastating earthquakes.
“We are providing immediate assistance and preparing a rapid assessment of the urgent and massive needs on the ground. This will identify priority areas for the country’s recovery and reconstruction as we prepare operations to support those needs.”
According to him, “Immediate assistance of $780 millionis offered via Contingent Emergency Response Components (CERCs) from two existing projects in Türkey – The Türkey Earthquake, Floods and Wildlife’s Emergency Reconstruction Project (TEFWER) and the Climate and Disaster Resilient Cities Project.
CERCs, he added, help recipient countries quickly access project funds for emergency response, as is needed now in Türkey, noting that the assistance will be used for rebuilding basic infrastructure at the municipal level.
The global Bank also disclosed that an additional $1 billion in operations is also being prepared to support people affected in order to provide immediate support for recovery and reconstruction from the catastrophe.
Besides, the World Bank Country Director for Turkey, Humberto Lopez has this to say: “Also Türkey’s immediate and future needs are immense and span the whole range from relief to reconstruction.”
