The EBRD launches a subsidy program for SMEs in seismic zones

The European Bank for Reconstruction and Development (EBRD) launched a new program to support SMEs in 11 provinces affected by the earthquakes of February 6.

Under the program, companies will receive a subsidy of up to 60,000 euros for the reconstruction of damaged buildings, production equipment and infrastructure. The support will cover 85 percent of the reconstruction and repair costs.

The EBRD statement noted that many small businesses had to stop their activities after the earthquake disaster and that these businesses needed support to reopen.

THE JAPANESE ALSO SUPPORT

The Japanese Ministry of Finance will also support the program. The program will be aimed at companies in Adıyaman, Hatay, Kahramanmaraş, Kilis, Osmaniye, Gaziantep, Malatya, Şanlıurfa, Diyarbakır, Elazığ and Adana.

Within the scope of its €1.5 billion investment plan for the region within two years, the EBRD also created a €600 million Disaster Response Framework to reduce the economic effects of the disaster. (REUTERS)