Disaster reconstruction fund to be established

Disaster reconstruction fund to be established

Disaster reconstruction fund to be established

Discussions on the proposal to establish a Disaster Reconstruction Fund were held at the General Assembly of the Parliament and the proposal was enacted into law.

A Disaster Reconstruction Fund will be established in order to provide, manage and transfer the necessary resources to the relevant public institutions and organizations for reconstruction, infrastructure and pavement works in areas declared as disaster zones.

The board of directors of the fund will be chaired by the Treasury Minister and consist of the Environment, Urbanization and Climate Change Minister, the Energy Minister, the Agriculture and Forestry Minister, the Interior Minister, the Transportation and Infrastructure Minister and the president of Türkiye’s strategy and budget office.

The board will determine the projects to which resources will be transferred from the fund, the amount of resources to be transferred and the expenditure programs.

The procedures and principles regarding the structure and functioning of the fund will be determined by a regulation to be issued by the board.

The fund’s resources will consist of cash donations, aids, grants and loans from domestic and foreign sources; appropriations to be placed in the budget for this purpose, and financing and resources obtained from domestic and foreign capital and money markets that are exempted from all restrictions in the legislation of institutions and organizations.

For the projects decided by the board in accordance with the purpose of the law, resources will be transferred from the fund to the relevant institutions and organizations with the approval of the board, to be paid within the scope of the expenditure program.