Financed ProjectsIstanbul Metro Umraniye-Atasehir-Goztepe

Identification Code:

OP/18/0029

Total Operation Cost:

175.000.000

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

Istanbul Municipality Metro project aimed at construction of Umraniye – Atasehir - Goztepe Metro line of 13 kilometers with 11 stations

Countries of Operation:

Türkiye (100,00 %)

Financial Product:

Loans

Sector:

Industrials

Domain:

Public

Borrower/Client:

Istanbul Metropolitan Municipality

Co-Financiers/Participants:

EBRD and Societe Generale as EBRD B Lender

Guarantors/Sponsors:

n.a.

Developmental and Regional Cooperation Impact:

The operation will have favorable economic benefits for the Turkish economy, particularly in Istanbul which is an important economic hub of the country. Once operational, it will improve connectivity in the city, reduce time spent in traffic and reduce traffic load and related expenses of the budget. At the same time, metro line operator will pay taxes and likely hire more staff, thereby positively contribute to employment.

Environmental Classification and Impact (summary):

The Operation falls under Category B+ of BSTDB’s screening criteria and has the potential to generate adverse environmental and social impacts, but which are site specific, largely reversible and can be effectively managed through relevant mitigation measures. A specific ESAP is being agreed that will address these issues during the construction and operation phases. Generally the operation is expected to generate positive impacts.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org