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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Breaking News

Breaking News

EU executive offers 1 billion euros to rehabilitate Turkey after earthquake.

European Union Photo Credit: Kenneth European Union Photo Credit: Kenneth
European Union Photo Credit: Kenneth European Union Photo Credit: Kenneth

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The chairman of the European Commission said on Monday that the EU executive would provide 1 billion euros ($1.07 bln) to Turkey’s rehabilitation after last month’s deadly earthquake.

The greatest natural disaster in years, the earthquake killed roughly 50,000 people in Turkey and Syria, according to commission chairman Ursula von der Leyen.

She began the conference by saying, “Millions are now homeless and living in tents as the winter goes on.”

“Rebuilding requires mobilization. Rebuild schools, hospitals, and homes to the highest seismic standards. Repair water, sanitation, and other important infrastructure. For individuals to work, public services and enterprises need finance.”

She said the Commission would invest 108 million euros in humanitarian help and early recovery in Syria, where the EU does not have diplomatic ties with President Bashar al-Assad due to a 2011 conflict.

The UNDP calculated Turkey’s “overall financial impact of the seismic calamity” at $103.6 billion, 9% of its 2023 GDP prediction.


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