Financed ProjectsIMM - Waste Incineration and Power Gener

Identification Code:

OP/19/0004

Total Operation Cost:

318.126.167

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

Jointly financing, with Societe General and BNP Paribas as well as Swiss ECA, SERV, Istanbul Municipality’s solid waste incineration and energy generation project, which consists of construction of an electric power generation plant having 3 incineration lines with a total capacity of 1.000.000 t/year.

Countries of Operation:

Türkiye (100,00 %)

Financial Product:

Loans

Sector:

Industrials

Domain:

Public

Borrower/Client:

Istanbul Metropolitan Municipality

Co-Financiers/Participants:

BNP Paribas and Societe Generale as well as Swiss ECA, SERV

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. Aside from environmental benefits related to the waste storage and management, the planned plant will produce electricity from readily available resources. This factor is particularly important given that Turkey relies heavily on imported products for the domestic electricity generation. With this operation, Istanbul will have additional electricity generation plant reliant on domestically available inputs, thereby contributing positively to an external balance of the country. Additionally, the plant, once operation, is hoped to be profit making, and, therefore pay taxes to the budget, create employment and have positive multiplier effect.

Environmental Classification and Impact (summary):

Category A operation requiring a full ESIA, meaningful consultation with the public that may be affected by such operations, and public disclosure of 60 calendar days before the BoD meeting. The Bank is leading the ESDD process on behalf of the Lenders and is currently in the process of commissioning the independent ESDD to Arup. It aims at identifying and assessing the potential E&S risks and impacts associated with the Project and any associated facilities; determine what additional E&S studies are needed; and what prevention, minimization and mitigation measures are necessary to be integrated in the Project’s and associated facilities’ design, construction stage, start up, operation and decommissioning in order to ensure compliance with the applicable legal, regulatory, Lender’s institutional requirements, the industry’s best practices, and which will increase the Project’s overall sustainability. Upon completion of the ESDD the Consultant will draft a comprehensive Environmental and Social Action Plan (ESAP), a Stakeholder Engagement Plan, and a Non-Technical Summary (NTS) as per the Lender’s requirements. The Consultant will discuss and agree these documents with IMM, the EPC Contractor (if found necessary), the Project Operator (if already established) and the Lenders. The implementation of the agreed ESAP and SEP will represent the Lender’s main E&S terms and conditions of financing the Project. The assignment is expected to be completed within 35 working days after the commencement day.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org