Türkiye Secures $587M ADB Funding for Earthquake Recovery

Türkiye has obtained €500 million ($587.3 million) in financing from the Asian Development Bank (ADB) to support exporters affected by the February 2023 earthquakes in the country’s southeast, according the Treasury and Finance Ministry.

The financing will be used by the country’s official export credit agency, Turk Eximbank, to meet the financial needs of exporters operating in the earthquake-stricken zone, The Caspian Post reports, citing Turkish media.

Additionally, €150 million ($176.1 million) and $150 million in financing were also secured from the Asian Development Bank to be used by the Türkiye Development and Investment Bank for the post-earthquake recovery, renewable energy investments, and providing cost-effective capacity-enhancing resources.

The total earthquake financing Türkiye secured from the ADB totaled around $1 billion, including the €150-million financing provided to Ankara-based investment bank Ilbank on Nov. 12, 2025.

Around $8.4 billion in external financing has thus been secured for the earthquake-stricken region in the country’s southeast since 2023.

Turkish Treasury and Finance Minister Mehmet Simsek said that Ankara secured a total of $16.5 billion in external financing with favorable terms this year.

“Türkiye broke a record in external financing thanks in part to the confidence in its economic program,” he said.

“This financing will make contributions in revitalizing economic activity in the affected region, supporting sustainable growth, and boosting production capacity - we continue our work to help heal the earthquake-stricken region and we will continue to secure long-term and favorable resources for our affected businesses and for the development of the region,” he added.