45 Million Euro Bus Debt Left to IETT from AKP Era

iettye has a million euro bus debt from the akp period

It has been revealed that 110 million Euros of the overdue debt of 45 million Euros to IETT from the previous period is the unpaid installments of the buses purchased in the 2013-2017 period. When the companies in the market did not accept to sell in installments to IETT due to unpaid debts, the search for foreign loans as a solution was also stuck with the approval of the Presidency.

According to the news of Özlem GÜVEMLİ from SÖZCÜ; “IETT, which is affiliated to the Istanbul Metropolitan Municipality, cannot use the 300 million Euro borrowing authority it received from the parliament to find foreign loans for 90 new buses, which it plans to buy, especially to solve the excessive density experienced in metrobuses, because it has not been approved by the Presidency for 7 months.

IETT, which has been waiting for foreign loan approval from the Presidency since December, did not get any results and decided to go out to tender in July to buy 100 buses to be used on the metrobus line with its own resources. It turned out that the main reason for the problem of IETT in purchasing new buses was the debts from the past period.


According to the information obtained, IETT purchased buses from 4 different companies in 2013, 2015 and 2017.

In 2017, 375 buses were purchased for the last time in the IETT fleet. After the 23 June 2019 local elections, the debt situation of IETT was examined by the Board of Inspectors and it was revealed that the institution was plunged into debt. According to the report of the Board, there is a total debt of 140 million Euros, approximately 1.5 billion liras, which is overdue and not yet due. It was seen that 110 million Euros of this debt were overdue debts.


110 million of overdue debt of 45 million Euros

It has been determined that the Euro is the debts that were purchased from 4 bus companies in 2013-2017 and transferred to the new period because installment payments were not made. The same buses also have an unpaid debt of 30 million Euros. In other words, the institution has a total bus debt of 75 million euros. According to the information obtained from IETT officials, the bus companies were not willing to sell to IETT in installments again due to the buses that were purchased during the AKP period but were not paid in installments. Thereupon, he had to come to the fore in search of foreign loans for new vehicle investment. However, this initiative has still not been concluded as it has not been approved by the Presidency.


According to the calculation, the outstanding debt of 45 million Euros corresponds to the cost of approximately 375 zero kilometer solo buses. Approximately 2019 million Euros to be paid after June 30 is equivalent to the cost of 225 zero kilometer solo buses. In other words, with the debt transferred from the old period to be paid to the new management, approximately 600 zero kilometer solo buses could be purchased.

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