Statement on earthquake fund from Mehmet Şimşek

Minister of Treasury and Finance Mehmet Şimşek made an assessment regarding the Disaster Reconstruction Fund, the infrastructure for which was established by a law passed last year.

Stating that the Disaster Reconstruction Fund was established with the aforementioned law to provide, manage, and transfer the necessary resources to relevant public institutions and organizations for reconstruction, infrastructure, and superstructure works in areas declared as disaster zones affecting general life by AFAD following natural disasters, Şimşek said the fund would be affiliated with the Ministry of Treasury and Finance.

Şimşek reported that the fund's board of directors consists of the Minister of Treasury and Finance as chair, along with the Ministers of Environment, Urbanization and Climate Change; Energy and Natural Resources; Agriculture and Forestry; Interior; Transport and Infrastructure; and the Head of Strategy and Budget.

Providing information on the fund's resources, Şimşek said, "These resources will consist of all kinds of cash donations, aid, grants, and loans including bonds from domestic and foreign sources, as well as appropriations to be allocated to the budget for this purpose."

Pointing out that the fund will transfer these resources to relevant projects in line with the purposes specified in the law and within the framework of board decisions, depending on their realization, Şimşek made the following assessment:

"Work on the Disaster Reconstruction Fund Regulation, carried out under the coordination of our Ministry to determine the procedures and principles regarding the structure and operation of the fund, has been completed, and the regulation has been sent to the Presidency for publication in the Official Gazette. Following the publication of the regulation, reconstruction and construction projects in disaster zones, particularly in areas affected by the February 6 Kahramanmaraş earthquakes, will be financed in a planned manner and in coordination with institutions."

"LONG-TERM, LOW-COST EXTERNAL FINANCING OPPORTUNITIES WILL BE UTILIZED"

Arguing that this will ensure, first and foremost, the utilization of long-term and low-cost external financing opportunities, and that resources will be used efficiently, effectively, and transparently, Şimşek said, "The fund will be audited in accordance with independent audit standards and will also be subject to the audit of the Court of Accounts. In this context, our work will continue in close cooperation with our relevant institutions in line with the determined goals."

News Source: AA