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Istanbul Metro

Türkiye | Industrials

Identification Code:: OP/06/0627
Total Operation Cost:: 307.237.810 USD
Maturity:: 96 months
Operation Status:: BSTDB Approved Amount – Approval Date

36.000.000 USD – 12 Jan 2007
: BSTDB Signed Amount – Signed Date

21.000.000 USD – 27 Mar 2007
: Status:
Completed
Description and Purpose of the Operation:: Brief description of the operation: BSTDB provided a USD 21 million loan to Istanbul Electric Tramway and Tunnel Administration (IETT) to finance the extension of two lines with the aim of addressing the serious traffic congestion problems in Istanbul.
Countries of Operation:: Türkiye (100,00%)
Financial Product:: Loans
Sector:: Industrials
Domain:: Public
Borrower/Client:: Istanbul Electric Tramway and Tunnel Administration (IETT)
Co-Financers/Participants:: WestLB AG, London, Fortis Bank SA/NV, KfW, Landesbank Hessen-Thuringen Girozentrale, Societe Generale S.A, Bayerische Landesbank, Raiffeisen Zentralbank Osterreich Aktiengesellschaft,Banca OPI S.p.A, Turkiye Is Bankasi A.S., Bahrain Branch, Turkiye Garanti Bankas A.S. Luxembourg Branch, Commerzbank AG, Kommunalkredit Austria AG, AKA Ausfuhrkredit- Gesellschaft mbH
Guarantors/Sponsors:: Istanbul Buyuksehir Belediyesi (Municipality of Istanbul)
Developmental and Regional Cooperation Impact:: The project is expected to enhance the effectiveness of the metro/ light train infrastructure of the city of Istanbul by improving the traffic flow and quality of life of passengers and residents.
Environmental Classification and Impact:: The project will result in reduction of fuel consumption and traffic jams, as well as decreasing the urban air and noise pollution.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org