20.4 C
Cairo
March 29, 2024
News

World Bank to give Turkey $1.78 billion in earthquake aid funds

Turkey will receive $1.78 billion in relief and recovery financing from the World Bank. This is as it deals with the aftermath of an earthquake that killed over 20,000 people and left hundreds of thousands homeless. Ankara will receive $780 million as a result of the World Bank diverting funds from two existing Turkish loan projects, according to Reuters.

World Bank to give Turkey $1.78 billion in earthquake aid fundsThere is also another $1 billion in assistance being prepared for Turkey’s recovery and reconstruction. However, it will take more time to arrange than previously predicted, according to a spokesperson for the World Bank. A magnitude 7.9 earthquake struck southern Turkey on Monday. It was felt in Cyprus, Lebanon and Syria, collapsing dozens of buildings and triggering a search for survivors under the rubble in snowy streets.

Related posts

Mohammed bin Rashid meets with Governor-General of Australia at Expo 2020

Admin

Billionaire Arab business tycoon Majid Al Futtaim passes away

Admin

Nahyan bin Mubarak attends Iraq National Day celebrations at Expo 2020 Dubai

Admin

Sheikh Mohamed and Prince Salman review bilateral ties

Admin

UAE ranks first on Bloomberg’s COVID Resilience Ranking

Admin

Sheikh Khalifa Marine Research Centre develops UAE fish farming

Admin