Istanbul: The World Bank has signed a financing agreement worth approximately $642.6 million with Trkiye, aimed at enhancing Istanbul's disaster preparation and response capacity. This initiative, part of the Istanbul Resilience Project approved earlier this year, will focus on establishing disaster-resistant and energy-efficient public buildings across the city.

According to Anadolu Agency, the project will be executed by the coordination unit of the Istanbul Governor's Office. This agreement brings the total external financing provided to Trkiye by global organizations to about $14.7 billion for the year. Specifically, the funds allocated for Istanbul's disaster preparation, including the World Bank's loan, have reached a total of $1.9 billion.

In addition to these efforts, the total financing for the reconstruction of the earthquake-affected areas in Trkiye's southeast has climbed to $7.5 billion. Turkish Treasury and Finance Minister Mehmet Simsek highlighted the long-standing collaboration between Trkiye and the World Bank, noting its impact on disaster risk reduction, climate change adaptation, and sustainable urbanism.

Minister Simsek emphasized the country's ongoing commitment to public investments aimed at improving Istanbul's readiness against earthquakes and enhancing disaster management capacity and urban resilience, as outlined in Trkiye's Medium-Term Program.