The Asian Development Bank (ADB) has approved two loans totaling $909.7 million to support Türkiye’s recovery from the February 2023 earthquakes. The financing aims to rebuild resilient infrastructure, promote manufacturing investments, and assist small and medium-sized enterprises (SMEs) in creating jobs, boosting exports, and enhancing disaster resilience.
The first project, Empowering Export-Oriented Enterprises with Long-Term Financing to Drive Earthquake Recovery, Build Resilience, and Boost Job Creation, provides a $585.7 million credit line to the Export Credit Bank of Türkiye (Eximbank). The funds will support at least 100 export-oriented SMEs and mid-cap firms, with at least 60% located in earthquake-affected areas, including women-owned or women-led businesses. The initiative emphasizes green solutions and integrates environmental and disaster risk screening into business operations, while strengthening Eximbank’s financial intermediary processes for gender-responsive and disaster-resilient financing.
The second project, Resilient Earthquake Recovery Through Infrastructure Financing and Capacity Enhancing Loans, channels $324 million through the Development and Investment Bank of Türkiye (TKYB) to finance at least 100 megawatts of renewable energy and manufacturing investments, with at least half directed to earthquake-affected provinces. It provides long-term financing to at least five manufacturing businesses, including enterprises with significant female representation, and enhances TKYB’s capacity to integrate gender sensitivity and disaster resilience into its financial and risk management practices.
ADB Director General for Central and West Asia, Leah Gutierrez, emphasized that Türkiye’s recovery requires sustained investment to restore and advance productive capacity, generate quality jobs, and build resilience to future shocks. By partnering with Eximbank and TKYB, these projects expand access to long-term finance for renewable energy, manufacturing, and SMEs, while embedding disaster- and gender-responsive risk management across the financial system.
The loans, guaranteed by the Government of the Republic of Türkiye, align with ADB’s interim country partnership strategy for Türkiye (2025–2027), under which the Bank plans to deliver about $3 billion annually in project financing in 2026 and 2027. TKYB, with 50 years of development banking experience, and Eximbank, Türkiye’s official export credit agency, are both owned by the Ministry of Treasury and Finance.
Founded in 1966 and owned by 69 members, including 50 from the Asia-Pacific region, ADB is a leading multilateral development bank that promotes inclusive, resilient, and sustainable growth across Asia and the Pacific. By leveraging innovative financial tools and strategic partnerships, the Bank aims to transform lives, build quality infrastructure, and safeguard the environment.
