80 Million Euro Signed for Üçyol Buca Metro: 80 Million Euro Signed for Üçyol Buca Metro; First signatures were signed for the largest investment project in İzmir's history. A contract has been signed between İzmir Metropolitan Municipality and European Bank for Reconstruction and Development for the initial financing of Üçyol Buca Metro Project.
The first major step was taken to finance the largest investment in the history of İzmir. İzmir Metropolitan Municipality and European Bank for Reconstruction and Development (EBRD) signed a financial authorization agreement for the 13,3 million euros today for the 80 kilometer metro project that will connect Üçyol and Buca. With this authorization agreement, tender works can be started immediately subject to EBRD's international procurement policies and rules. Within the scope of the project, the tender is planned to be started at 2020.
İzmir Mayor Tunç Soyer made a speech at the signing ceremony at Çetin Emeç Meeting Hall of İzmir Metropolitan Municipality. We aim for our citizens to access to fast, modern, safe and environmental transportation more easily. Our Üçyol Buca metro project will radically solve the traffic problem in a region with a high population density and will give everyone a breath. ”
“We were able to obtain uninsured and unsecured loans from the Treasury”
Noting that international cooperation can be ensured with mutual trust, Tunç Soyer said, “Financing institutions rigorously inspect the institutions to which they will give credit and undergo important financial analyzes. As a result of these tests, financing is provided only if the international finance institutions and development banks look to the future of our municipality with confidence. In this financial environment, the Izmir Metropolitan Municipality has managed to obtain unsecured and unsecured loans from the Treasury. We have once again demonstrated that the credibility of our municipality is high by receiving financial support for such important and big projects ”.
The goal is to build a sustainable future
EBRD Turkey Vice President Sule sword the EBRD, Izmir saying that the Council's long-term and strong partners, "Izmir Municipality of Izmir better and effort to create a sustainable future for the people we are always appreciated. Today, while signing the credit authorization letter of Üçyol - Buca Metro Project, we also hold the opening and information meeting of the Green Cities Action Plan. With the Green Cities Program, the EBRD aims to build a more sustainable future for cities and their inhabitants. Within the framework of the program, an action plan, which is planned to make İzmir a greener city, will be prepared. The Green City Action Plan will set out the strategic objectives of İzmir in the fight against climate change and will identify a series of actions and investments that are envisaged to be realized in the short, medium and long term. ”
12 annual maturity
Information was given about the details of the loan at the meeting. The 80 million euro loan received by the Izmir Metropolitan Municipality has a maturity structure extending to the total 4 year without repayment of the 12 year principal. Negotiations with international development banks and financing institutions are continuing for the remaining financing of the project.
The Project is on the 2019 Year Investment Program Revision Chart
Üçyol and Buca Metro Project were included in the Revision Schedule of the 2019 Year Investment Program of the Presidency of Strategy and Budget of the Republic of Turkey. The Ministry of Treasury and Finance approved compliance with the external financing of the project for the financing need of 6 billion 165 million 852 thousand TL without Treasury guarantee.