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Istanbul Metro Umraniye-Atasehir-Goztepe

Türkiye | Industrials

Identification Code:: OP/18/0029
Total Operation Cost:: 175.000.000 EUR
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

77.500.000 EUR – 15 Mar 2019
: BSTDB Signed Amount – Signed Date

77.500.000 EUR – 27 Aug 2019
: Status:
Active
Description and Purpose of the Operation:: Istanbul Municipality Metro project aimed at construction of Umraniye Atasehir - Goztepe Metro line of 13 kilometers with 11 stations
Countries of Operation:: Türkiye (100,00%)
Financial Product:: Loans
Sector:: Industrials
Domain:: Public
Borrower/Client:: Istanbul Metropolitan Municipality
Co-Financers/Participants:: EBRD and Societe Generale as EBRD B Lender
Guarantors/Sponsors:: n.a.
Developmental and Regional Cooperation Impact:: The operation will have favorable economic benefits for the Turkish economy, particularly in Istanbul which is an important economic hub of the country. Once operational, it will improve connectivity in the city, reduce time spent in traffic and reduce traffic load and related expenses of the budget. At the same time, metro line operator will pay taxes and likely hire more staff, thereby positively contribute to employment.
Environmental Classification and Impact:: The Operation falls under Category B+ of BSTDB’s screening criteria and has the potential to generate adverse environmental and social impacts, but which are site specific, largely reversible and can be effectively managed through relevant mitigation measures. A specific ESAP is being agreed that will address these issues during the construction and operation phases. Generally the operation is expected to generate positive impacts.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org