Beijing, September 04, 2024

AIIB Commits USD200 Million to Support Türkiye’s Earthquake Recovery

The Asian Infrastructure Investment Bank (AIIB) has approved a USD200-million loan to Türkiye’s Emergency Road Rehabilitation and Reconstruction Project to support the country’s recovery from the February 2023 earthquakes.

The loan is part of a USD415.9-million package cofinanced with the Government of Türkiye. As the Bank’s first stand-alone initiative in Türkiye’s transport sector, the project aims to restore connectivity and ensure the safe movement of goods and people in earthquake-affected areas. It also aims to enhance the resilience of critical infrastructure by incorporating advanced technologies and best practices to prepare for future challenges.

“This project exemplifies AIIB’s commitment to supporting our Members in times of need, ensuring rebuilding efforts are sustainable and resilient,” said Konstantin Limitovskiy, Vice President for Investment Clients Region 2 and Project and Corporate Finance, Global. “By helping Türkiye rebuild critical infrastructure and connectivity, we are confident that the roads supported by AIIB will withstand future climate challenges and provide reliable, lasting service to the people of Türkiye, improving their daily lives and contributing to a stronger, more connected future."

AIIB’s involvement follows a careful assessment to align its support with Türkiye’s long-term recovery goals. By rehabilitating and reconstructing damaged roads, tunnels and bridges, the project will improve regional and national integration and support Türkiye’s efforts to reestablish key trade corridors, particularly in regions like Gaziantep and Hatay, which are vital for trade between Türkiye, the Middle East and Europe.

By integrating lessons learned from previous emergency projects and leveraging AIIB’s technical expertise, the initiative aims to deliver high-quality, resilient infrastructure that supports sustainable economic development and long-term recovery in the region.

 

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond—infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 109 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

Logos for Download

AIIB logo is available in JPEG and PDF format.

DOWNLOAD

Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683

SEND AN EMAIL
More News Articles

Beijing, November 29, 2024

USD400-Million AIIB Financing to Support Green Development of Hubei Global Air Cargo Logistics Project

The Asian Infrastructure Investment Bank (AIIB) has approved USD400 million in sovereign-backed financing to support the development of the Hubei Global Air Cargo Logistics Project. The initiative aims to establish a state-of-the-art bonded logistics park adjacent to the Hubei Ezhou Huahu International Airport, Asia’s first dedicated freight airport.

READ MORE

Beijing, November 25, 2024

AIIB, AFD Sign Cofinancing Framework Agreement  to Jointly Accelerate Sustainable Development

The Asian Infrastructure Investment Bank (AIIB) and the French Development Agency (Agence Française de Développement or AFD) have signed a strategic Co-Financing Framework Agreement at AIIB’s headquarters. It aims to deepen their collaboration in furtherance of common development objectives, promote sustainable development and advance climate-resilient infrastructure projects globally.

READ MORE

Rio de De Janeiro, November 20, 2024

Multilateral Development Banks Welcome G20 Roadmap for MDB Reform

The Heads of 10 multilateral development banks (MDBs) welcomed today the endorsement by G20 Leaders of the G20 Roadmap towards Better, Bigger, and More Effective MDBs. The Roadmap outlines a comprehensive vision for continuing to reform MDBs to better address regional and global challenges, create more jobs and opportunities, and support countries to accelerate progress toward the Sustainable Development Goals (SDGs) and the goals of the Paris Agreement.

READ MORE

Baku , November 18, 2024

AIIB Signs Landmark Private Sector Solar PV Project in Azerbaijan at COP29 in Baku

At COP29, the Asian Infrastructure Investment Bank (AIIB) signed a financing agreement of USD160 million for its first private-sector renewable energy project in Azerbaijan, marking a major step in expanding green infrastructure across the Caucasus region.

READ MORE