AIIB, Türkiye Sign EUR150 Million Loan Agreement as Additional Funding for Istanbul Seismic Mitigation and Emergency Preparedness
SHARM EL SHEIKH, Egypt, Sept. 29, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) has approved a loan of EUR150 million for the Istanbul Seismic Risk Mitigation and Emergency Preparedness Additional Financing (ISMEP-AF) project.
- SHARM EL SHEIKH, Egypt, Sept. 29, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) has approved a loan of EUR150 million for the Istanbul Seismic Risk Mitigation and Emergency Preparedness Additional Financing (ISMEP-AF) project.
- To formalize the agreement, a virtual signing ceremony was conducted between AIIB and the Republic of Türkiye on Sept. 27, 2023.
- Through AIIB's Crisis Recovery Facility, the Bank also provided assistance to help the Government of Türkiye manage its COVID-19 response.
- AIIB is closely working with Türkiye to further deepen its engagement to support Türkiye's development agenda.