Release date: 8 November 2012
Promoter – Financial Intermediary
REPUBLIC OF TURKEYLocation
Description
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.
Objectives
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.
Comments
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 660 million
Environmental aspects
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 Outdated buildings will be replaced with modern and renovated facilities which usually provide a higher capacity and consume less energy.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.
Procurement
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.
Status
Signed - 29/10/2013
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).