The European Commission is hosting an International Donors’ Conference to raise money for reconstruction in Turkey and Syria, where earthquakes killed more than 50,000 last month.
(Bloomberg) —
The European Commission is hosting an International Donors’ Conference to raise money for reconstruction in Turkey and Syria, where earthquakes killed more than 50,000 last month.
The European Union’s executive body will collect pledges from the bloc’s member states, international organizations and other countries during Monday’s meeting.
The Treasury and Finance Ministry in Turkey put the economic toll of the quakes that hit the country’s southeast at over $100 billion. The temblors also affected neighboring Syria, where around 7,000 are believed dead.
Turkey’s main fiscal office, the UN Development Program and the World Bank will present their joint damage assessment before the donors’ gathering officially kicks off, providing a basis for discussion.
Turkey Puts Economic Toll From Earthquakes at About $104 Billion
The World Bank already pledged $1.78 billion in financial assistance for relief and recovery efforts in Turkey, while the European Bank for Reconstruction and Development pledged as much as €1.5 billion ($1.6 billion) over the next two years.
Swedish Hosts
The conference also brings together officials from Turkey and Sweden, which is co-hosting the conference. The government in Stockholm is waiting for a green light from Ankara to join the North Atlantic Treaty Organization.
NATO Edges Closer to Expansion as Finland Wins Over Holdouts (2)
Sweden and neighboring Finland applied to be part of the NATO alliance after Russia’s invasion of Ukraine last year.
Turkey has opposed Sweden’s membership bid on grounds that the country has not addressed Turkish security concerns over Kurdish militants’ presence in the country.
Turkish President Recep Tayyip Erdogan said last week it would ratify Finland’s entry but reiterated his stance on Sweden, accusing the country of “opening its arms to terrorists.”
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