The Islamic Development Bank (IsDB) Group and Development Investment Bank of Türkiye (TKYB) Tuesday signed a $200 million (TL 5.79 billion) financing settlement to help the nation’s earthquake-hit southeastern area.
“The financing will support Türkiye’s post-earthquake recovery efforts and revitalization of the agri-food sector in the most affected provinces,” IsDB Group mentioned on X, previously Twitter.
“The deal aims to implement innovative agricultural technologies to rebuild the agricultural infrastructure, increase food activities and expand sustainable development studies,” the TKYB mentioned on X.
The signing ceremony of the settlement held at TKYB headquarters in Istanbul was attended by IsDB Group President Muhammad Al-Jasser, Deputy Minister of Treasury and Finance Osman Çelik, International Islamic Trade Finance Corporation (ITFC) CEO Hani Salem Sonbol and TKYB General Manager Ibrahim Öztop.
In his speech on the ceremony, Çelik mentioned: “IsDB is an important partner within the framework of our development agenda. We are very pleased with our fruitful cooperation.”
“‘The Post-Earthquake Recovery and Agricultural Food Support Project’ will serve the area affected by the earthquake by supporting the financial restoration of agricultural manufacturing,” he added.
Al-Jasser, for his half, famous that the current day marks an necessary turning level for the continuing partnership with Türkiye and that the settlement price $200 million isn’t solely a undertaking but in addition a help program created for the nation to heal its wounds.
Pointing out that this initiative is of nice significance by way of the reconstruction and revitalization of earthquake-affected areas, particularly agricultural manufacturing, Al-Jasser mentioned: “As we flip these challenges into alternatives for sustainable growth and resilience collectively, we strengthen our solidarity with Türkiye.”
“I am delighted to be able to bring on board the OPEC Fund, IsDB’s strategic partner, to support this project,” he added.
A pair of highly effective earthquakes hit the nation’s southeastern area earlier this 12 months, killing greater than 50,000 individuals and inflicting widespread harm. Official estimates put the price of the harm and reconstruction at round $100 billion.
Source: www.dailysabah.com