Istanbul Metro Project II (EBRD-49825)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
U
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
Mar 13, 2019
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
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)
$ 89.19 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 77.5
Converted using 2019-01-10 exchange rate.
Project Cost (USD)
$ 472.59 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 410.65
Converted using 2019-01-10 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 12, 2019

Disclosed by Bank Jan 10, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project provides financing for the construction of 13km of the new Umraniye-Atasehir-Goztepe Metro line, including 11 stations.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • Istanbul Metro Company -- Operation Contract

Istanbul is the largest city in Turkey with a population of around 15 million inhabitants. The city is a public legal entity established and governed under municipal laws of Turkey. The municipality of Istanbul will finance and implement the project. Istanbul Metro Company, which is fully owned by the municipality, will operate the proposed metro line.

Contact Information

Nuri Sezgin
nuri.sezgin@ibb.gov.tr
+902124494000
www.ibb.istanbul
Osmaniye Mahallesi Çobançeme Kouyolu Bulvar No:5 34568 Bakrköy/ISTANBUL

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.