The European Bank for Reconstruction and Development (EBRD) has announced its investment plan for the earthquake zone.
The bank reported that up to 1.5 billion euros will be invested for the region affected by the earthquake. In the statement made by the bank, the said resource will be spent on supporting the private sector and infrastructure investments. The EBRD investments will include credit lines, infrastructure investments and SME focus.
With these investments, the Bank aims to rebuild the region and reintegrate it into the national economy, as well as to protect the human capital, professions and livelihoods of the people of the region in the regions affected by the earthquake.
Investment plan in different areas
The bank's support will include 600 million euros of credit lines to local banks for businesses and individuals directly affected by the earthquakes, as well as new loans to companies participating in recovery and rebuilding efforts in the region, strengthening the role of the private sector.
The EBRD will also support the rebuilding of sustainable infrastructure in the affected cities, building on its strong history of cooperation with municipalities in cities such as Hatay and Gaziantep. It will also focus funds on rebuilding the rail network.
The EBRD has invested approximately 17 billion euros in Turkey since 2009. The Bank made an investment of 1.6 billion euros in Turkey in 2022.