Türkiye secures $587M from ADB to aid exporters after 2023 earthquakes

Türkiye has secured significant international financial support for the ongoing recovery from the catastrophic February 2023 earthquakes, with the Asian Development Bank (ADB) approving €500 million (approximately $587.3 million) specifically for affected exporters. The funding, announced by the Turkish Treasury and Finance Ministry, will be channeled through the official export credit agency, Turk Eximbank, to support businesses in the earthquake-stricken southeastern region.

Broader ADB Package for Recovery and Renewables

In addition to the exporter-focused loan, the ADB approved two further tranches of financing totaling €150 million and $150 million. These funds are designated for the Türkiye Development and Investment Bank to support post-earthquake recovery projects, renewable energy investments, and capacity-building initiatives. Combined with a previous €150 million loan finalized in November 2025, the total earthquake-related financing Türkiye has secured from the ADB now stands at roughly $1 billion.

Part of a Record External Financing Strategy

This latest package contributes to a substantial external financing effort for the quake zone, which has attracted around $8.4 billion since the disaster. Treasury and Finance Minister Mehmet Simsek highlighted that Türkiye secured a record $16.5 billion in external financing with favorable terms this year alone. He attributed this success to international confidence in the government's economic program, stating the funds will "revitalize economic activity," support sustainable growth, and boost production capacity in the affected region.

Long-Term Commitment to Regional Development

Minister Simsek emphasized that the government's work to "heal the earthquake-stricken region" is continuous, with a focus on securing long-term, favorable resources for local businesses and overall regional development. The strategic use of development bank financing underscores a key pillar of Türkiye's recovery strategy: leveraging international partnerships to fund reconstruction and foster economic resilience.