Azernews.Az

By News Centre

With the initiatives of the Ministry of Treasury and Finance, a new financing package of $500 million was signed with the World Bank for the Turkish Development and Investment Bank (TKYB) to support businesses in the earthquake zone. Following the earthquakes that occurred on February 6, 2023, the Ministry continues to provide financing from abroad for the regions affected by this disaster.

Accordingly, agreements regarding the provision of financing to TKYB within the scope of the Registered Employment Creation Project, which was developed to support economic recovery and increase employment in the earthquake-affected regions and was approved by the World Bank Executive Directors Board, were signed on May 23.

In this context, financing of $500 million will be directed to businesses operating in 11 provinces — Adana, Adıyaman, Diyarbakır, Elazığ, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye, and Şanlıurfa — as well as 7 neighbouring provinces, including Batman, Bingöl, Kayseri, Mardin, Niğde, Sivas, and Tunceli.

The project aims to protect existing employment and create additional employment opportunities by meeting the investment and working capital needs of companies in the region.

With this project, for which the agreements have been finalised, the total amount of financing provided by international organisations for the regions affected by the February 6 earthquakes has reached $6.4 billion. Approximately $2.4 billion of this financing has been used to support the real sector and exporters.

Minister of Treasury and Finance Mehmet Şimşek also pointed out that they prioritize policies that support employment, encourage value-added production, and increase access to financing under favorable conditions within the framework of the economic program, and said, "In this regard, resources provided within the scope of strong collaborations with international organizations are effectively directed to the real sector and contribute to our sustainable growth target."