HomeEconomyEU inks $431M deal with Türkiye to assist its post-quake recovery

EU inks $431M deal with Türkiye to assist its post-quake recovery

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The European Union inked on Wednesday an settlement with Türkiye on a 400 million euros ($431 million) grant from the European Union Solidarity Fund (EUSF) to finance post-disaster restoration following the devastating twin earthquakes that hit the nation in early 2023.

The signing ceremony was held on the European Commission’s headquarters in Brussels with the attendance of European Commissioner for Cohesion and Reforms Elisa Ferreira and Deputy Foreign Minister Mehmet Kemal Bozay.

In a speech, Ferreira expressed “sympathy on behalf of the European Commission with the people of Türkiye,” particularly to “all who lost their homes or their loved ones.”

“The EU stands in solidarity with Türkiye and has pledged to deliver 1 billion euros of assistance,” she stated.

“Today we are signing an agreement to deliver 400 million euros from the EU Solidarity Fund. In the history of this post-disaster relief instrument, this is the largest sum ever awarded to a candidate country. This is also the first time that Türkiye receives support from the Fund,” she stated.

The EUSF is among the EU’s predominant devices for post-disaster restoration and a tangible expression of EU solidarity. It helps member states and accession international locations to deal with the monetary burden brought on by main pure disasters.

Ferreira famous that EU officers have been working with Ankara because the twin disasters happened in February final 12 months, saying the pledge goals to “support first the repair of infrastructure, especially in the fields of health and education, but also in water and wastewater.”

“Second, the fund will support temporary accommodation, including container cities,” she stated. Moreover, as a 3rd, this help is geared toward preventive measures to safe infrastructure and defend cultural heritage, she stated.

She additionally famous the European Commission is “prepared to provide further guidance and support during the implementation period.”

Bozay expressed gratitude “for the unwavering support the EU and its members provided in the aftermath of the earthquakes.”

“We are also deeply touched by the solidarity of our European friends in assisting with recovery efforts in the earthquake-affected regions,” he stated.

On the EU’s pledge, he stated: “We have prepared all the details of what we will do with this agreement.”

Describing the deal as “a landmark development” amongst related pledge efforts, Bozay stated, nevertheless, that “considering the scale of the devastation, the amount to be released in this agreement will cover only a tiny fraction of our extensive reconstruction efforts.”

He additionally underscored that the “significance” of the pledge “goes beyond its financial value.”

“It symbolizes the EU’s solidarity with us, with Türkiye,” he stated, noting that “the allocated funds … are intended for various purposes, including the construction of schools and hospitals in the affected areas as well as the restoration of structures in cultural heritage.”

The Feb. 6, 2023 earthquakes that hit southern Türkiye killed a complete of 53,537 individuals and injured greater than 107,000 others.

The magnitude 7.7 and seven.6 quakes struck 11 Turkish provinces – Adana, Adiyaman, Diyarbakır, Elazığ, Hatay, Gaziantep, Kahramanmaraş, Kilis, Malatya, Osmaniye and Şanlıurfa.

More than 14 million individuals had been affected in Türkiye together with many others in northern Syria.

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