Release date: 5 June 2013
Promoter – Financial Intermediary
TURKIYE IS BANKASI ASLocation
Description
The proposed framework loan would be dedicated to earthquake safety improvements in residential buildings as defined in the Turkish Law on Transformation of Areas under Disaster Risk.
Objectives
The proposed operation will improve the safety of residential buildings in case of future earthquakes and will have the potential to reduce damages and casualties.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 200 million
Environmental aspects
The project will focus on the renovation/replacement of risk-bearing residential buildings with earthquake-proof housing. Since the (re)construction and renovation will take place in urbanised areas, and usually on the site of an existing building, no or only a very limited negative impact on the environment is expected. The schemes would therefore not require an Environmental Impact Assessment (EIA) according to the Directive 2011/92/EU if located in the EU. However, any possible environmental or social issues, including the coherence with the principles underlying the EU directives, will be verified during project appraisal.
Procurement
The Bank will require the borrower/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.
Status
Signed - 9/05/2014