The World Bank aims to prevent the closure of micro, small and medium-sized enterprises (MSMEs) that were damaged by the economic effects of the earthquakes that hit southeast Turkey on February 6, 2023 and that shook the country deeply, and to protect their employment. Türkiye Post Earthquake Micro, Small and Medium Enterprises Improvement Project started. The project aims to support the continued business activities and sustainable growth of eligible MSMEs affected by the earthquake.
Within the scope of this project, the World Bank will provide financial support to Turkey in the amount of 450 million USD. The project will be carried out by the Small and Medium Enterprises Development and Support Administration (KOSGEB) under the guarantee of the Ministry of Treasury and Finance. According to the information provided by the World Bank about the project, the financial support aims to help MSMEs reduce liquidity pressures, restart their activities and gradually increase their employment to pre-earthquake levels. In addition, recruiting new workers to replace workers who left the earthquake-affected area is also within the scope of my support. MSMEs in 11 provinces where the project will be implemented will be able to benefit from financial support, training, consultancy and other resources.
World Bank Türkiye Country Director Humberto Lopez, in his statement regarding the approval of the project, stated that the World Bank has supported Turkey since the earthquakes and shared its experience and expertise in disaster risk management and post-natural disaster reconstruction. Lopez also emphasized that this process will be a long journey and will require significant resources, and stated that they will stand by Turkey and help the affected communities rebuild.
World Bank Chief Economist And Project Task Team Co-Leader Stefka Slavova regarding the project “There are 473.354 private enterprises in the provinces affected by the earthquake, and 99 percent of them are MSMEs, which are the main source of employment for poor or near-poverty households and employ 346,000 people in various sectors. said.
World Bank Senior Private Sector Specialist And Project Task Team Co-Leader Ali Abukumail He stated the following about the project: “The project will support the relief and recovery of critical segments of Turkish industry. The government is also expected to avoid bankruptcy-related costs in the short term and benefit from increased fiscal revenues in the medium term.”
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