World Bank Boosts Istanbul Resilience with $650 Million Loan

The World Bank has approved a $650 million loan for the Istanbul Resilience Project to enhance the city's emergency preparedness for disasters and climate risks. The project focuses on protecting lives, livelihoods, and economic activity in Turkey's largest city by bolstering its resilience.

The World Bank announced on Friday the approval of a $650 million loan aimed at bolstering the Istanbul Resilience Project. This significant financial backing is intended to enhance the city's capacity to handle disasters and climate-related risks.

By focusing on increased emergency preparedness, the investment seeks to safeguard lives, preserve livelihoods, and maintain economic stability in Turkey's largest metropolis, Istanbul. The move underscores a broader commitment to ensuring urban resilience in vulnerable areas.

The World Bank's statement emphasized the importance of fortifying Istanbul against potential threats, aligning with the project's broader objectives of improving disaster response and climate adaptability.

(With inputs from agencies.)