Turkey wants to set up a special fund to reconstruct the areas affected by the country’s severe earthquakes. This involved official wishes to remain anonymous and reports this to the Bloomberg news agency.
The fund should make it possible to support reconstruction in eleven affected cities outside the tax laws and regulations. President Recep Tayyip Erdogan had already promised to build more than 400,000 homes in the earthquake zone within a year.
The World Bank previously estimated the reconstruction costs at a minimum of USD 35 billion.
According to the official, the fund will be announced in parliament within a few days. Turkish Finance Minister Nureddin Nebati will be in charge. Erdogan will determine how much money will be tapped from the state treasury and what it will be used for.
