Turkey: Izmir Metro Phase 5: Ucyol - Buca Line (AIIB-000376)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Specific Location
Izmir
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Izmir Metropolitan Municipality - Turkey
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 147.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 125 million
Converted using 2021-08-13 exchange rate.
Project Cost (USD)
$ 766.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 650 million
Converted using 2021-08-13 exchange rate.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Sep 2, 2021


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Project Description

According to the Bank's website, the project provides funding to Izmir municipality to finance the tendering, construction, and operation of a new metro line between the central districts of Konak and Karabaglar and the south-eastern district of Buca. The Project includes underground and civil engineering works (stations, tunnels), electro-mechanical works (signaling, telecommunications, energy supply, elevators and escalators, environmental control systems), and auxiliary facilities. T

Investment Description

The Project will be funded with external debt up to EUR490 million to be provided by AIIB (up to EUR125 million), EBRD (EUR125 million), AFD (EUR125 million), and other lenders (up to EUR115 million).


Contact Information

PROJECT CONTACT INFORMATION

PROJECT TEAM LEADER

Asian Infrastructure Investment Bank

Francisco Fortuny

Senior Investment Operations Specialist

fj.fortuny@aiib.org

Gabriel Alfredo Giacobone

Infrastructure Sector Economist

gabriel.giacobone@aiib.org

BORROWER

Izmir Buyuksehir Belediyesi

Selin Sayin Kapanci

Finance Manager

selinsayin@izmir.bel.tr

Mustafa Kapci

Rail System Department Manager

mustafakapci@izmir.bel.tr

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html