A brand new $500 million financing bundle has been signed between the World Bank and the Development and Investment Bank of Türkiye (TKYB) by way of the initiatives of the Treasury and Finance Ministry to assist companies within the earthquake-affected areas, based on a report on Monday.
This introduced the full worldwide financing for areas impacted by the devastating earthquakes that struck Türkiye in early 2023 to $6.4 billion, the report stated.
According to data obtained by an Anadolu Agency (AA) correspondent, the ministry continues to safe financing from overseas for areas affected by the earthquakes that occurred on Feb. 6, 2023.
Accordingly, agreements for financing TKYB beneath the Formal Employment Creation Project – developed to assist financial restoration and enhance employment within the earthquake-affected areas and authorized by the World Bank’s Board of Executive Directors – have been signed on May 23.
As a part of this, the $500 million in financing might be directed to companies working in 11 provinces: Adana, Adıyaman, Diyarbakır, Elazığ, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye and Şanlıurfa, in addition to seven neighboring provinces: Batman, Bingöl, Kayseri, Mardin, Niğde, Sivas and Tunceli.
The undertaking goals to protect current jobs and create new employment alternatives by assembly the funding and dealing capital wants of regional firms.
With the signing of this undertaking, the full quantity of worldwide financing secured for areas affected by the Feb. 6 earthquakes has reached $6.4 billion. Of this quantity, roughly $2.4 billion is getting used to assist the true sector and exporters.
Treasury and Finance Minister Mehmet Şimşek emphasised that, throughout the framework of the financial program, they prioritize insurance policies that assist employment, encourage value-added manufacturing and enhance entry to financing beneath favorable circumstances.
“In this regard, the resources secured through strong cooperation with international organizations are being effectively directed to the real sector and are contributing to our sustainable growth goal,” he stated.
Source: www.dailysabah.com