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    Reference: 20160340
    Release date: 8 November 2016

    Promoter – Financial Intermediary

    ISTANBUL BUYUKSEHIR BELEDIYESI

    Location

    Description

    The project involves the construction of the 13,4 km-long Atakoy - Ikitelli metro line with 12 new stations on the European side of Istanbul. The new metro line will intersect with six different urban rail systems and provide improved network connections.

    Objectives

    The project is expected to generate savings in user time, vehicle operating costs, road accident costs, local air/noise emissions as well as a reduction in greenhouse gas emissions as a result of the expected modal shift of passengers from road to rail.

    Comments

    This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Not disclosed.

    Total cost (Approximate amount)

    Not disclosed.

    Environmental aspects

    If situated within the EU, the project would fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU and therefore be subject to a screening decision of the competent authority. In this case, the project was screened out based on an environmental assessment prepared in 2015. These documents will be reviewed and assessed during the appraisal to ensure compliance with the EIB's environmental and social standards.

    Procurement

    The Bank will require the promoter to ensure that for works to be financed by the proposed EIB loan, procurement procedures are carried out in accordance with the Bank's Guide to Procurement.

    Status

    Signed - 22/12/2016

    Disclaimer

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

    Related tags

    Turkey Transport