Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 300,000,000
    Countries
    Sector(s)
    Türkiye : € 300,000,000
    Urban development : € 300,000,000
    Signature date(s)
    17/03/2014 : € 100,000,000
    29/10/2013 : € 200,000,000
    Link to source

    Summary sheet

    Release date
    8 November 2012
    Status
    Reference
    Signed | 29/10/2013
    20120067
    Project name
    Promoter - financial intermediary
    ISTANBUL EARTHQUAKE RISK MITIGATION II
    REPUBLIC OF TURKEY
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 300 million
    EUR 660 million
    Location
    Sector(s)
    Description
    Objectives

    Istanbul is situated on the North Anatolian fault-line and faces a very high likelihood of a major earthquake in the coming decades. The proposed operation forms the second phase of the Turkish government's initiative to mitigate the earthquake risk in the city of Istanbul. The loan would co-finance the reinforcing or rebuilding of public sector buildings (such as schools, hospitals etc) which are earthquake prone. The World Bank and CEB are among the other financiers of this priority project.

    Enhancing the Emergency Preparedness (up to 5% of project costs) through the purchase of goods and materials required in the event of such a disaster, the construction of disaster centers, campaigns to raise public awareness, etc.; and strengthening and modernisation of earthquake prone public buildings or their replacement with earthquake proof facilities (about 95% project costs), basically schools, hospitals, student dormitories, health centers, etc.

    Environmental aspects
    Procurement

    The project focuses essentially on the replacement of vulnerable buildings with earthquake proof facilities. Since the construction will take place in an already urbanised area, no or a very limited negative impact on the environment is expected. Outdated buildings will be replaced with modern and renovated facilities which usually provide a higher capacity and consume less energy. Due to the congestion of services on the existing sites and the more efficient use of energy the overall effects on the environment will be positive.

    The Bank will require the Promoter to ensure that any procurement procedures are done in accordance with the Bank’s Guide to Procurement and the relevant applicable EU public procurement rules. The first phase has been implemented using WB Procurement procedures with an additional publication on the OJEU. It is intended to use the same procedures for the second phase.

    Link to source

    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).

    News & Stories

    General enquiries and comments

    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.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    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.

    Related publications