According to its statement, the World Bank has initiated a speedy damage assessment to accurately quantify the destruction and pinpoint areas urgently needing recovery and reconstruction aid. To help rapidly address the aftermath of this devastating series of earthquakes and aftershocks that inflicted tremendous loss of life, injuries, and substantial damages across southeastern Turkey–the bank is providing 1 billion 780 million dollars for rescue operations and relief efforts. In addition, it has set aside an additional one billion dollars specifically designed to give assistance to those affected by these quakes.
The Money Will Be Used For The Reconstruction Of The Region
The Contingent Emergency Response Components (CERC) within the scope of two existing projects in Turkey have allowed for a direct aid system to be put into place, providing an impressive $780 million in assistance during its first stage. This quick-response funding is tailored especially towards countries suffering from disasters or other critical circumstances, allowing them to receive monetary help expeditiously; this is currently being done with great success in Turkey. The money will go directly towards reconstructing basic infrastructures at local levels throughout the country as specified by the issuing bank’s statement.
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On behalf of the World Bank Group, President David Malpass extended his deepest sympathies to those in Turkey and Syria who suffered great losses due to the destructive earthquakes.
The World Bank Will Carry Out The Necessary Studies To Determine The Needs Of The Region
As the bank, we are conducting a thorough evaluation of urgent and pressing demands to provide immediate aid. This assessment is paramount for pinpointing priority areas that require restoration or rebuilding efforts and supporting operations targeting those needs,” noted Malpass. Humberto Lopez, World Bank Country Director for Turkey, also expressed: “Turkey’s current requirements are massive and span all fields, from assistance to reconstruction.”
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