EBRD to invest 1.5bn Euros in Turkiye earthquake-hit regions

European Bank for Reconstruction and Development [Wikipedia]

The European Bank for Reconstruction and Development (EBRD) will significantly increase investment in Turkiye this year, a top official said on Wednesday, after investing more than 1.6 billion Euros ($1.7 billion) last year, Reuters reports.

According to the report, the investment will include 600 million Euros of credit lines to local banks for businesses and individuals affected by the earthquakes, as well as lending to companies working in reconstruction.

The direct physical damage to the region totals $34 billion, report added.

READ: Turkiye FM visits Cairo, meets Egypt counterpart

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