MMI Metro Line (IFC-37093)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Specific Location
Istanbul
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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.
Voting Date
Feb 8, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
METROPOLITAN MUNICIPALITY OF ISTANBUL
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • 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)
$ 65.49 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 369.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2017

Disclosed by Bank Jan 6, 2016


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Project Description
This project finances the construction and electromechanical works of the 5.3 km Kabatas-Mecidiyekoy metro line including three stations. The metro line will be constructed on the European side of Istanbul and will establish an east-west public transit axis running through seven northern districts of Istanbul and interconnecting four existing tram/metro lines.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Name: Hasan Pezuk Address: IBB Ek Hizmet Binasi M. Nezihi Ozmen Mah. Kasim Sok. 34010 Merter Istanbul Tel: +90 212 449 41 75 Fax: +90 212 449 41 80 Email: mailto:hasan.pezuk@ibb.gov.tr ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/