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Signature(s)

Amount
€ 300,000,000
Countries
Sector(s)
Türkiye : € 300,000,000
Urban development : € 300,000,000
Signature date(s)
12/03/2008 : € 300,000,000
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Summary sheet

Release date
29 July 2005
Status
Reference
Signed | 12/03/2008
20040284
Project name
Promoter - financial intermediary
Istanbul Earthquake Risk Mitigation
Republic of Turkey
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Approximately EUR 250 million
Approximately EUR 750 million
Location
Sector(s)
Description
Objectives

Reinforcing public buildings in the city of Istanbul with the aim of raising the city’s resilience against earthquakes.

The Government of the Republic of Turkey is commencing a series of investments with the aim of transforming Istanbul into a city resilient to major earthquake. While both public and private structures are concerned, the present project primarily targets public sector buildings.

The main objective of this project is to retrofit critical public facilities, such as hospitals, clinics, schools, emergency response centers etc.

Environmental aspects
Procurement

The project is environmentally positive as it helps minimize the potentially devastating environmental consequences of an earthquake, and assure the existence of public infrastructure and major utilities networks in the event of the disaster. The environmental risks during the implementation of the proposed Istanbul Earthquake Risk Mitigation project are minor and mainly construction works related.

International tendering, after publication in the Official Journal of the European Union, is foreseen for those project components, which require major investments. A number of smaller contracts might be tendered in -line with Turkish national procurement rules. A project implementation unit will oversee the procurement procedures.

Comments

Construction.

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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