Ankara, Türkiye, 9 April 2025 - The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved EUR200 million in financing for Türkiye to support the recovery of municipalities affected by the February 2023 Earthquakes through investments in sustainable infrastructure in water, wastewater, and solid waste management.

The approval also targets financing resilient and sustainable urban transportation in other municipalities across the country. This came at the 359th IsDB Board meeting in Jeddah, Kingdom of Saudi Arabia, chaired by IsDB President, H.E. Dr. Muhammad Al Jasser.

The “Municipal Infrastructure for Recovery and Resilience Project” will help residents of Turkish cities to live in better environments and access better municipal services.

It will improve the livelihoods of hundreds of thousands of households and millions of individuals by availing better infrastructure in water and wastewater networks and treatment plants, as well as access to safer, greener and more reliable urban transport services.

The Project also includes mainstreaming of “build back better” principles to ensure that the new investments will be resilient and meet high quality standards.

“The water and wastewater sectors were significantly affected by the 2023 earthquakes, and in some cities, the quality of the tap water still needs improvement. In parallel to the government and international partners' efforts in reconstruction of housing and other urban services, we are happy to join forces with ILBANK to deliver new infrastructure to the affected municipalities,” said Dr. Walid Abdelwahab, Director of the IsDB Group Regional Hub in Türkiye.”

The project builds on previous successful cooperation between IsDB and ILBANK. Its activities will include construction activities, purchase of equipment and materials, and supporting technical studies to benefit the targeted municipalities. It would also be a catalyst for Türkiye’s ILBANK to create its interest-free financing product that will allow local authorities to access, for the first time, financing offered by ILBANK through the principles of participation finance.

“This is a timely project, and we are proud to contribute to the improvement of lives of city-dwellers in both the earthquake-affected areas and elsewhere through the activities dedicated to urban services that will contribute to the Government’s 12th Development Plan,” stated Oussema Trigui, IsDB Operations Team Leader for the Project.

About the Islamic Development Bank (IsDB) Group  
Rated AAA by the major rating agencies of the world, the Islamic Development Bank is the pioneering multilateral development bank (MDB) of the Global South that has been working for over 50 years to improve the lives of the people and communities it serves by delivering impact at scale. The Bank brings together 57 Member Countries across four continents, touching the lives of nearly 1 of 4 people worldwide. It is committed to addressing development challenges and promoting collaboration to help achieve the United Nations Sustainable Development Goals (SDGs) by equipping people to drive their own green economic and sustainable social progress, putting planet-friendly infrastructure in place, and enabling them to fulfill their potential. Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has 10 regional hubs and a center of excellence.  Over the years, the Bank has evolved from a single entity into a group comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI); the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); the Islamic Corporation for the Development of the Private Sector (ICD); the International Islamic Trade Finance Corporation (ITFC); and the Islamic Solidarity Fund for Development (ISFD).