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Izmir Municipality Metro project

Türkiye | Industrials

Identification Code:: OP/19/0056
Total Operation Cost:: 198.000.000 EUR
Maturity:: 120 months
Operation Status:: BSTDB Approved Amount – Approval Date

50.000.000 EUR – 24 Dec 2019
: BSTDB Signed Amount – Signed Date

50.000.000 EUR – 24 Jan 2020
: Status:
Active
Description and Purpose of the Operation:: Izmir Municipality Metro project aimed at the construction of a 7.2 km metro line with seven underground metro stations in Izmir
Countries of Operation:: Türkiye (100,00%)
Financial Product:: Loans
Sector:: Industrials
Domain:: Public
Borrower/Client:: Izmir Meropolitan Municipality
Co-Financers/Participants:: EBRD
Guarantors/Sponsors:: n.a.
Developmental and Regional Cooperation Impact:: The operation will have favorable economic benefits for the Turkish economy, particularly in Izmir, which is the third biggest city. Once operational, the new line will improve connectivity in the city, reduce time spent in traffic and reduce traffic load and related expenses. 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 Project has been screened as B+ in accordance with the BSTDB Environmental and Social Policy due to the potential to generate medium- high environmental and social (E&S) risks and impacts, which however are likely to be limited, site-specific, not significant, and which can be managed to meet the internationally accepted standards for public transportation systems.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org