Türkiye secures nearly $437M in external funding for earthquake zone reconstruction
An aerial view of ongoing post-earthquake reconstruction efforts, where new housing units are being built to replace homes destroyed in the Feb. 6, 2023, earthquakes in southeastern Türkiye, accessed on Mar. 19, 2025. (AA Photo)
Türkiye has secured €400 million ($436.06 million) in financing from the World Bank and the French Development Agency (AFD) to support the reconstruction of rural housing in the southeastern region of Türkiye, which was affected by the earthquakes on Feb. 6, 2023, Turkish Treasury and Finance Minister Mehmet Simsek announced Tuesday.
The funding will be allocated to the Ministry of Environment, Urbanization, and Climate Change to facilitate the renovation and rebuilding of homes in the region.
With this financing, approximately 2,800 rural homes are expected to be renovated or reconstructed. The project prioritizes on-site rebuilding where feasible, ensuring that the new structures meet earthquake resilience standards while also improving water, energy, and thermal efficiency.
After the 7.8 and 7.5 magnitude earthquakes struck 11 cities in Türkiye’s southeastern region, 227,027 buildings were identified as destroyed, set for emergency demolition, or severely damaged.
With this latest funding, the total external financing secured for the reconstruction and development of the earthquake-hit region since 2023 has reached approximately $5.5 billion.
Including the €400 million secured under this initiative, the total concessional and long-term external financing allocated for project funding in 2025 has now reached around $1.1 billion.
‘Rebuilding the region remains a priority’
Simsek emphasized that rebuilding the earthquake-affected region remains one of the government’s top priorities following the devastating Kahramanmaras-centered earthquakes.
He noted that Türkiye continues to collaborate with international financial institutions to support the reconstruction process.
“We expect additional financing to be secured for the earthquake zone by the end of the year,” Simsek said. “Confidence in Türkiye’s economy and our program is reflected in our ability to secure external funding. These resources are the result of rule-based, internationally aligned, and rational policies.”
Humberto Lopez, the World Bank’s country director for Türkiye, reaffirmed the institution’s commitment to supporting Türkiye’s recovery efforts.
“We will continue to support the Turkish people in their recovery efforts following one of the worst natural disasters in the country’s history,” Lopez said. “Helping affected communities rebuild their homes and revitalize local economies remains our top priority.”
