ADB Approves $400 Million Loan to Support Earthquake Recovery, Expand SME Access to Finance in Turkiye
Turkey, Sept. 28 -- The Asian Development Bank (ADB) has approved a $400 million loan to Tu?rkiye Vak?flar Bankas? T.A.O. (Vak?fBank) to support Tu?rkiye's post-earthquake recovery by building disaster-resilient houses, promoting clean energy, and expanding access to finance for small and medium-sized enterprises (SMEs) owned by or employing women in less developed provinces.Of the loan proceeds, $200 million will be on-lent to housing developers to support the construction of 4,500 houses in 11 provinces affected by the February 2023 earthquakes, integrating disaster-resilient and energy-efficient features. The other $200 million will be disbursed to SMEs in less developed provinces, particularly owned by or employing women and enterprises...
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