World Bank to provide Turkey $1.78 billion in earthquake relief financing

Agencies | Washington

The Daily Tribune – www.newsofbahrain.com

The World Bank said on Thursday it is providing Turkey with $1.78 billion in relief and recovery financing assistance as the country struggles with the aftermath of an earthquake that has killed over 20,000 people and left hundreds of thousands homeless.

The World Bank said in a statement that $780 million will become available for Ankara immediately, as the funds will be diverted from two existing World Bank loan projects in Turkey, reports Reuters.

Another $1 billion in assistance for Turkey’s recovery and reconstruction is also being prepared but will take more time to arrange, a World Bank spokesperson said.