World Bank announces US$1.78 blin in aid for Turkiye devastating earthquakes

WASHINGTON: The World Bank has announced US$1.7 billion in new assistance for Turkiye to help the country recover from the recent devastating earthquakes and aftershocks, according to a statement released on Thursday.

"The World Bank announced today US$1.78 billion in assistance to help relief and recovery efforts following devastating earthquakes and aftershocks in Turkiye that have already resulted in massive loss of life, injuries, and very significant damages in and around southeastern Turkiye," the statement said, reported Sputnik.

The World Bank will also start a rapid damage assessment to identify specific areas where it can support Turkiye's reconstruction efforts going forward, the statement said.

Immediate assistance totaling US$780 million will be offered to Turkiye through the Contingent Emergency Response Components and an additional US$1 billion is being prepared to support those affected by the earthquake, the statement said.

"On behalf of the World Bank Group, we express our deepest condolences to the people of Turkiye and Syria for the great loss you have suffered as a result of the devastating earthquakes," World Bank Group President David Malpass said in the statement.

The death toll from Monday's earthquakes and ongoing aftershocks in Turkiye has exceeded 17,000 and the number of injured has risen above 71,000, according to the Disaster and Emergency Management Authority.

-- BERNAMA