Izmir Metropolitan, 450 Million TL To Be Borrowed For Giant Transportation Projects!

million TL to be borrowed for huge transportation projects in Izmir
million TL to be borrowed for huge transportation projects in Izmir

Izmir Metropolitan Municipality has decided to borrow 450 million TL for metro and rail system projects and electric bus purchases.

The studies carried out by İzmir Metropolitan Municipality for urban transportation routes and infrastructure projects are ongoing. The municipality management, which decided to borrow investments that put a heavy burden on the municipality's financial structure, demanded credit.

Accordingly, it was stated that a cash loan of up to 50 million Euros from the Asian Infrastructure Investment Bank (AIIB) and / or OPEC International Development Fund (OFID) is needed to be used in the 'Fahrettin Altay - Narlıdere Employment School Light Rail System Line Project. If the decision passes through the assembly, provision and use of the loan, making the borrowing, determining the conditions of loan repayment, making changes on the loan agreements and providing the necessary guarantees and guarantees for the loan to be used, and issuing or signing all kinds of contracts, undertakings, protocols and assignment contracts related to these works. Izmir Metropolitan Municipality Mayor Tunç Soyer will be empowered to deal with all kinds of credit related communications.

In addition, ESHOT General Directorate stated that they needed 400 million TL or equivalent foreign currency cash loan to use for 20 bus purchases within the scope of the Electric Bus Purchase (62 units) Project. The decision was made to grant the same signing authority to President Soyer.

Due to the investment that İzmir Metropolitan Municipality will make for the purchase of rail systems and buses, the loan amount will reach 450 million TL in TL.

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