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The World Bank said on Friday it had approved a $650 million loan to support the Istanbul Resilience Project, an investment to strengthen the city’s emergency preparedness and response capacities for disasters and climate risks.
Focused on protecting lives, livelihoods and economic activity in Turkey’s largest city, the project aims to improve Istanbul’s resilience, the World Bank said in a statement.
“With Istanbul generating nearly one-third of [Turkey]’s gross domestic product and home to over 15 million people, the city’s vulnerability to earthquakes and climate shocks poses risks not only to its population but also to the national economy,” it added.
(Reuters
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