Türkiye, Islamic Development Bank sign $200M deal for quake recovery

ANKARA

The Islamic Development Bank (IsDB) Group and Development Investment Bank of Türkiye (TKYB) on Tuesday signed a $200 million financing agreement to support the earthquake-hit southern region.


"The financing will support Türkiye's post-earthquake recovery efforts and revitalization of the agri-food sector in the most affected provinces," IsDB Group said on X.

Today in Istanbul, #IsDB President H.E. Dr. Al Jasser and Türkiye’s Deputy Minister of Treasury and Finance, H.E. Osman Çelik, witnessed the signing of a landmark US$200 million financing agreement between the #IsDB Group and Development and Investment Bank of Türkiye (TKYB)… pic.twitter.com/vvPc8RuBH6

— IsDB Group (@isdb_group) December 5, 2023

TKYB, for its part, said on X: "The deal aims to implement innovative agricultural technologies to rebuild the agricultural infrastructure, increase food activities and expand sustainable development studies."

Two powerful earthquakes hit 11 provinces in southern Türkiye on Feb. 6, causing extensive damage and killing and injuring tens of thousands of people.