Doha: The Islamic Development Bank (IsDB) has signed a financing package worth EUR 200 million with Turkiye, to support the sustainable development of municipal infrastructure in major cities across provinces impacted by the February 2023 earthquakes.
According to Qatar News Agency, the agreement comprises two financing components: EUR 150 million allocated for the reconstruction of infrastructure in earthquake-affected areas, and EUR 50 million dedicated to enhancing urban transportation systems.
Director of the IsDB Group’s Regional Center in Turkiye, Walid Abdel Wahab highlighted that the initiative will accelerate Turkiye’s recovery efforts following the devastating earthquakes. He stressed that the ‘Municipal Infrastructure for Recovery and Resilience’ project aims to bolster the country’s preparedness and resilience against future challenges, particularly in the face of climate change.
The project will fund key investments in water supply systems, wastewater treatment, solid waste management, and urban transport infrastructure. It will also contribute to Turkiye’s broader efforts to recover from recent natural disasters and rebuild municipal service delivery, advancing progress toward sustainable development goals.