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Bloomberg
Bloomberg
Eric Martin

World Bank Plans $1.78 Billion Turkey Assistance After Quakes

The World Bank will provide Turkey $1.78 billion in assistance for relief and recovery work following earthquakes in the southeast that have killed almost 18,000 people there and in neighboring Syria. 

The lender is offering immediate assistance of $780 million through two existing projects in the country to rebuild basic municipal-level infrastructure, the Washington-based lender said in a statement Thursday. It’s also preparing an extra $1 billion in operations to support people affected.

The World Bank has started rapid damage assessment to estimate the magnitude of the disaster and identify priority areas for recovery and reconstruction support, it said. 

The massive temblors struck 10 provinces in southeast Turkey. Many people remain trapped inside collapsed buildings, and survivors are facing freezing temperatures at night. 

©2023 Bloomberg L.P.

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