European Investment Bank To Provide Turkey With €500 Million For Earthquake Recovery
According to Dünya newspaper, the European Investment Bank will give Turkey €500 million euros to help it recoup from the devastating earthquakes.
This will be the first installment following the bank’s four-year suspension of funding due to exploration off the coast of Cyprus. According to the report, the EIB is now removing the restriction on financing for the country that had been in effect since 2019.
The EIB and the European Commission are working together to create a comprehensive assistance package, according to Lilyana Pavlova, Vice President of the bank.
A donor meeting was held the day before in Brussels. €7 billion have been raised by its participants, and these funds will help Turkey and Syria recover from recent natural catastrophes.