World Bank Approves $650M Loan to Boost Istanbul Disaster Resilience

The World Bank has approved a $650 million loan to support the Istanbul Resilience Project, aimed at enhancing the city's disaster preparedness, climate resilience, and emergency response capabilities. Istanbul, home to over 15 million people and responsible for nearly one-third of Turkey's GDP, faces significant risks from earthquakes and climate shocks due to its location near the North Anatolian Fault and its dense, aging infrastructure. The project focuses on four key areas: strengthening emergency preparedness and response by building critical infrastructure like paramedic stations and search and rescue centers; improving the resilience of public buildings by constructing facilities to withstand seismic and climate risks; providing technical assistance; and enabling rapid reallocation of funds for emergency recovery. This initiative also promotes green infrastructure, climate-adapted urban planning, and sustainable water and energy management to mitigate heatwaves and floods. World Bank officials emphasized that this investment is crucial for safeguarding Istanbul's population, economy, and public services during and after major disasters, supporting Turkey's broader economic revival efforts.