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.
