World Bank to provide $1 billion in financing to Turkey

In the statement made by the World Bank, it is stated that "The project aims to alleviate liquidity pressures on micro, small and medium-sized enterprises, help them restart their operations and gradually increase their employment to pre-earthquake levels by rehiring workers or hiring new ones to replace workers who left the earthquake-affected region."

Humberto Lopez, World Bank Country Director for Turkey, said: "These enterprises make significant contributions to the Turkish economy in terms of production, exports and employment.

Supporting their resilience to overcome the consequences of the earthquake will have positive spillover effects on the wider economy through supporting supply chains and employment."