Earthquake-prone Türkiye, which is particularly vulnerable to seismic activity, has secured new financial resources to boost the emergency preparedness and response capacities of its largest city through a project dubbed "Istanbul Resilience Project."
The World Bank said recently it had approved a $650 million loan to support the project, describing it as "a critical investment to strengthen the city’s emergency preparedness and response capacities for disasters and climate risks."
Focused on protecting lives, livelihoods and economic activity in Türkiye's largest city, the project aims to improve Istanbul's resilience, the World Bank said in a statement.
Istanbul, which sits on the North Anatolian Fault (NAF), spanning Türkiye and bordering Europe, is at significant risk of earthquake. Seismologists and experts have consistently warned that a major quake is likely to strike the region within the coming decades.
Earlier this year, a strong 6.2 magnitude earthquake shook the city, marking one of the strongest quakes to strike the metropolis in recent years.
With Istanbul generating nearly one-third of the country's gross domestic product (GDP) and being home to over 15 million people, the city’s vulnerability to earthquakes and climate shocks poses risks not only to its population but also to the national economy, the lender recalled in its statement.
"The project will help ensure that key public services can function during and after disasters, protect communities, and preserve economic continuity in the event of a major emergency," it added.
"This project is vital to safeguard Istanbul’s people and economy. By strengthening emergency preparedness, modernizing public infrastructure, and supporting community resilience, Türkiye is building a safer future for one of its most strategic provinces," said Humberto Lopez, World Bank country director for Türkiye.
Also commenting related to the financing, Treasury and Finance Minister Mehmet Şimşek, said that the support for earthquake preparedness, disaster management, and urban resilience investments continues.
"We have secured $650 million in financing from the World Bank to enhance Istanbul’s resilience against disasters and climate risks," the minister said in a post on X on Saturday.
"For this purpose, the total amount of favorably conditioned external funding provided for Istanbul has reached $5.4 billion," he added.
