Istanbul Earthquake Risk Mitigation

Promoter – Financial Intermediary

Republic of Turkey

Location

• Turkey

Description

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

Objectives

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.

Comments

Construction.

Sector(s)

• Urban development

Proposed EIB finance (Approximate amount)

Approximately EUR 250 million

Total cost (Approximate amount)

Approximately EUR 750 million

Environmental aspects

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.

Procurement

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.

Status

Signed - 12/03/2008