Saudi Arabia gives Turkish central bank $5 billion

Turkish government moves to protect workers from firing in aftermath of earthquake

Central Bank of the Republic of Turkey

The government of Saudi Arabia gave the Central Bank of the Republic of Turkey (CBRT) $5 billion on March 6.

The state-owned Saudi Fund for Development said the money was a demonstration of its “commitment to supporting Turkey’s efforts to strengthen its economy”, in the wake of a massive earthquake on February 6 that killed an estimated 46,000 people in Turkey and destroyed the homes of millions more.

On February 24, the CBRT cut its main policy rate by 50 basis points to 8.5%. It said it was

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