Türkiye Seeks $41 Billion Global Aid to Boost Urban Resilience
earthquake
Türkiye is requesting $41 billion in global financing over the next three years to improve its disaster preparedness, infrastructure modernization, and climate-friendly development. The move comes amid growing concerns over seismic threats, especially after the April 23 earthquake near Istanbul, and reflects a strategic pivot toward sustainable and resilient urban planning.
Finance Minister Mehmet Şimşek announced the funding target after high-level meetings with international financial bodies in Washington, including the World Bank and European Bank for Reconstruction and Development (EBRD). He positioned the initiative as a long-term investment strategy tied to Türkiye’s shift toward inclusive, market-oriented economic reform.
Earthquake Risk Fuels Urgency for Urban Upgrades
The magnitude 6.2 earthquake that struck near Istanbul—Türkiye’s most populous and economically vital city—reinforced the urgency of action. Though damage was minimal, panic swept the city, injuring dozens. Experts say the event served as a stark reminder of the vulnerabilities many Turkish cities still face.
“The Istanbul quake reminded us that the resilience of our cities cannot be delayed,” said Zeki Ulkenli, an urban planning expert at Cappadocia University.
Istanbul, home to 15 million people and generating nearly one-third of Türkiye’s GDP, lies near the North Anatolian Fault, one of the country’s most dangerous seismic zones. Many buildings remain non-compliant with modern construction standards, leaving millions at risk.
Financing Linked to Climate Goals and Digital Transition
The proposed funding will also target green development, energy efficiency, digital infrastructure, public health, and low-emission transport, Ulkenli noted. He emphasized the importance of a comprehensive, cross-ministerial approach, drawing inspiration from urban sustainability models in China and Japan.
“We must think beyond earthquakes. This funding is also key to reducing emissions and managing water and energy use smartly,” he added.
Global Institutions Back Early Steps, More Support Expected
Türkiye is already seeing results from its economic pivot launched in mid-2023, aimed at restoring investor trust through market-friendly reforms.
“The planned multi-year initiative would significantly scale up access to global funding,” said Prof. Şenol Babuscu of Başkent University.
In April, the EBRD provided a $28 million loan to Denizbank to help small and medium enterprises improve digital capabilities. More aid from the European Union is expected, particularly for sustainable transport and climate resilience projects.
Building Back After 2023’s Twin Quakes
The devastating February 2023 twin earthquakes in southeastern Türkiye left over 53,000 dead and inflicted damages of up to $100 billion, according to official estimates. Experts believe the $41 billion plan could be instrumental in addressing the infrastructure gap, while also aligning disaster recovery with climate transformation goals.
“This is about ensuring our infrastructure is both disaster-resistant and sustainable,” Babuscu stressed. “Only international cooperation can provide the scale needed.”
Ulkenli agreed, saying Türkiye must not only retrofit buildings for seismic safety, but also enhance energy efficiency, improve water management, and reduce carbon emissions.
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