BAKU, Azerbaijan, December 19. The Asian
Development Bank (ADB) has approved two loans totaling $909.7
million to help Türkiye accelerate its recovery from the February
2023 earthquakes, focusing on resilient infrastructure,
manufacturing investments and support for small and medium-sized
enterprises (SMEs), Trend reports via the Bank.
One loan, amounting to $585.7 million, will finance the
Empowering Export-Oriented Enterprises with Long-Term Financing to
Drive Earthquake Recovery, Build Resilience, and Boost Job Creation
Project. The funds will be provided as a credit line to the Export
Credit Bank of Türkiye (Eximbank) and on-lent to at least 100
export-oriented SMEs and mid-sized companies. At least 60% of the
beneficiaries are expected to be based in earthquake-affected
areas.
ADB said the financing will also target women-owned and
women-led businesses, or firms with significant female
representation, while promoting green solutions and integrating
environmental and disaster risk screening into business operations.
The project will additionally support Eximbank in strengthening
disaster risk management and gender-responsive financing
practices.
A second loan of $324 million will support the Resilient
Earthquake Recovery Through Infrastructure Financing and Capacity
Enhancing Loans Project and will be channelled through the
Development and Investment Bank of Türkiye (TKYB). The funds will
finance at least 100 megawatts of new renewable energy capacity and
manufacturing investments, with at least half of the financing
directed to provinces affected by the earthquakes.
The project will also provide longer-term financing to at least
five manufacturing businesses, including enterprises with female
representation, and will help integrate gender sensitivity and
disaster resilience into TKYB’s financial and risk management
frameworks, ADB said.
Both loans are guaranteed by the government of Türkiye and align
with ADB’s interim country partnership strategy for 2025–2027.
Under the strategy, ADB plans to deliver around $3 billion a year
in project financing in 2026 and 2027, as part of its support for
Türkiye’s recovery, green transition and sustainable economic
growth.
