BAKU, Azerbaijan, December 19. The Asian Development Bank (ADB) has approved two loans totaling $909.7 million to help Türkiye accelerate its recovery from the February 2023 earthquakes, focusing on resilient infrastructure, manufacturing investments and support for small and medium-sized enterprises (SMEs), Trend reports via the Bank.
One loan, amounting to $585.7 million, will finance the Empowering Export-Oriented Enterprises with Long-Term Financing to Drive Earthquake Recovery, Build Resilience, and Boost Job Creation Project. The funds will be provided as a credit line to the Export Credit Bank of Türkiye (Eximbank) and on-lent to at least 100 export-oriented SMEs and mid-sized companies. At least 60% of the beneficiaries are expected to be based in earthquake-affected areas.
ADB said the financing will also target women-owned and women-led businesses, or firms with significant female representation, while promoting green solutions and integrating environmental and disaster risk screening into business operations. The project will additionally support Eximbank in strengthening disaster risk management and gender-responsive financing practices.
A second loan of $324 million will support the Resilient Earthquake Recovery Through Infrastructure Financing and Capacity Enhancing Loans Project and will be channelled through the Development and Investment Bank of Türkiye (TKYB). The funds will finance at least 100 megawatts of new renewable energy capacity and manufacturing investments, with at least half of the financing directed to provinces affected by the earthquakes.
The project will also provide longer-term financing to at least five manufacturing businesses, including enterprises with female representation, and will help integrate gender sensitivity and disaster resilience into TKYB’s financial and risk management frameworks, ADB said.
Both loans are guaranteed by the government of Türkiye and align with ADB’s interim country partnership strategy for 2025–2027. Under the strategy, ADB plans to deliver around $3 billion a year in project financing in 2026 and 2027, as part of its support for Türkiye’s recovery, green transition and sustainable economic growth.