TCDD - Halkali Kapikule Line (EBRD-51582)

Countries
  • Turkey
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 10, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Republic of Turkey - Ministry of Treasury and Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Infrastructure
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 112.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 100,000,000.00
Converted using 2020-07-03 exchange rate.
Project Cost (USD)
$ 746.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 663,500,032.00
Converted using 2020-07-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 17, 2020

Disclosed by Bank Jul 3, 2020


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank's website, the project provides funding to the Republic of Turkey to fund the construction of 76 km section of a new high-speed railway line from Halkali station, Istanbul, to just before Cerkezkoy station.The project is the second phase of the new high-speed railway between Istanbul and Kapikule (the Halkali - Kapikule railway line).  Turkish State Railways (TCDD) will be the beneficiary of the loan and responsible for the project's implementation.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Asian Infrastructure Investment Bank is providing parallel financing.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Turkish State Railways (TCDD) Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Ministry of Treasure and Finance
Contact Name: Izzet Yerdes (Ministry of Treasury and Finance General Directorate of Foreign Economic Relations)
Telephone: +90 312 204 73 62
Website:  www.hmb.gov.tr
Email: dei_pfd@hmb.gov.tr 
Postal Address: Inönü Bulvari No:36 06510 Emek/Ankara

Turkish State Railways
Contact Name: Hasan Pezuk (Head Department of Railway Modernisation – General Directorate of Turkish State Railways)
Telephone: +90 312 520 0202
Website:  www.tcdd.gov.tr
Email: hasanpezuk@tcdd.gov.tr
Postal Address: Haci Bayram Mahallesi, Hipodrom Caddesi, No:3, 06050, Altindag / Ankara

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.

How it works

How it works