HomeEconomyTürkiye's Disaster Reconstruction Fund nears implementation phase

Türkiye’s Disaster Reconstruction Fund nears implementation phase

Date:

Popular News

Treasury and Finance Minister Mehmet Şimşek introduced Thursday that rules concerning the operation of the Disaster Reconstruction Fund have been ready and despatched to the Presidency to be printed within the Official Gazette, thus coming to its final part for implementation.

“Reconstruction and construction projects in disaster areas, especially in areas affected by the Kahramanmaraş earthquake of Feb. 6, 2023, will be financed in a planned manner, in coordination with institutions,” he mentioned.

Speaking to Anadolu Agency (AA), the minister offered an evaluation of the “Disaster Reconstruction Fund,” which was established final yr with the laws enacted.

Shortly after the devastating earthquakes that struck the southeastern area of the nation, the Turkish Parliament accepted a brand new regulation proposal geared toward creating the said fund.

Şimşek defined that with the mentioned regulation, the fund will oversee the allocation of assets to revive infrastructure and superstructures in areas declared by the Disaster and Emergency Management Authority (AFAD) as catastrophe areas affecting common life after pure disasters.

He mentioned that the fund can be affiliated with the Ministry of Treasury and Finance.

The board of administrators for the fund may even comprise the minister of setting, urbanization and local weather change, the minister of vitality and pure assets, the minister of agriculture and forestry, the minister of transport and infrastructure and the top of technique and price range, he famous.

Providing details about the fund’s assets, Şimşek mentioned: “These resources will consist of all kinds of cash donations, aid, grants and loans, including bonds from both domestic and foreign sources, as well as allocations from the budget for this purpose.”

He additionally indicated that the fund would switch these assets to related tasks primarily based on the objectives specified within the regulation and choices of the administration board.

“The regulation of the Disaster Reconstruction Fund, which is carried out underneath the coordination of our ministry to find out the procedures and ideas of its construction and operation, has been accomplished, and the regulation has been despatched to the Presidency to be printed within the Official Gazette,” he famous.

“After the publication of the regulation, reconstruction and development tasks in catastrophe areas, particularly within the areas affected by the earthquakes in Kahramanmaraş on Feb. 6, can be financed in a deliberate method and coordination with establishments.”

Highlighting the advantages of using cost-effective exterior financing, Şimşek emphasised that the fund would make sure the environment friendly, efficient and clear use of assets.

He additionally talked about that the fund could be topic to impartial audits by audit requirements and in addition to a Court of Accounts audit.

“Within this framework, our collaboration with our relevant institutions will continue closely in line with the specified goals,” he concluded.

The Daily Sabah Newsletter

Keep updated with what’s taking place in Turkey,
it’s area and the world.


You can unsubscribe at any time. By signing up you might be agreeing to our Terms of Use and Privacy Policy.
This web site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Source: www.dailysabah.com

Latest News

LEAVE A REPLY

Please enter your comment!
Please enter your name here