93 Million Euro Loan for Eminönü Alibeyköy Tram Line

ibb eminonu will receive million euro financing support for alibeykoy tram line
ibb eminonu will receive million euro financing support for alibeykoy tram line

A preliminary protocol of 93 million Euros was signed between IMM and the French Development Bank to be used in the Eminönü-Alibeyköy Tram Line project. “This financing, which we provide at a very affordable cost compared to national and international markets; Sharing their knowledge of “with a total maturity of 2 years, 10 years non-refundable and 12 years refundable, Imamoğlu emphasized that their success is the product of a transparent and rational management approach. İmamoğlu gave the good news that they will open the part of the line between Cibali and Eminönü in December 2022. With the loan to be provided, 20 trains will be purchased and the remaining 1.1 kilometers of the line will be completed.

Istanbul Metropolitan Municipality (IMM), under the management of Ekrem İmamoğlu, accelerated the construction process by solving the financing problems of the Eminönü-Alibeyköy Tram Line, which the previous administration started in 2016 and could not finish on time. The opening of the Cibali-Alibeyköy section, the first stage of the line, was held on January 1, 2021, with the participation of CHP Chairman Kemal Kılıçdaroğlu and IYI Party Chairman Meral Akşener. A preliminary protocol was signed between the IMM and the French Development Bank (AFD), which continues their production for the extension of the line to Eminönü, in order to provide a financial support of 93 million Euros to the project in question. The signing ceremony held at the central construction site of the line in Balat, accompanied by a magnificent view of Istanbul; It was held with the participation of İBB President Ekrem İmamoğlu, French Consul General in Istanbul Olivier Gauvin and AFD Executive Director for Operations Jean Pierre Marcelli. IMM senior management was also present at the ceremony with a full staff.

MARCELLI: “WE ARE READY TO COOPERATE WITH IMM FOR MUSILAGE”

Before signing, Consul General Gauvin gave the first speech. In his speech, Gauvin expressed his pleasure to contribute to the cooperation between IMM and AFD. After Gauvin, Marcelli and İmamoğlu gave their speeches, respectively. Sharing the knowledge that IMM is the largest beneficiary of AFD's funds after the Turkish state, Marcelli said, “AFD supports the financial autonomy of cities as part of its support for decentralization. AFD has financed 450 transportation projects of IMM with a total amount of 5 million Euros so far. This financial partnership is accompanied by exemplary collaboration between our teams. AFD is also ready to cooperate with IMM in order to find a solution to the 'mucilage' crisis in the Sea of ​​Marmara.”

İMAMOĞLU: “IMPORTANT IS TO CREATE REALISTIC PROJECTS”

Speaking before the signing ceremony, İmamoğlu explained the details of the financing they will provide from AFD, “This financing we have provided at a very affordable cost compared to national and international markets; A total of 2 years maturity, with 10 years non-refundable and 12 years payback”. “The main thing here is to put forward realistic, well-planned projects with a seriousness in line with the understanding of local government,” said İmamoğlu, “At the same time, to adopt a transparent and rational management approach. Thus, our success today is the journey of finding cost-effective financing with this capable understanding. I would also like to thank AFD for this cooperation.” Emphasizing that Istanbul is one of the most valuable parts of Europe in all aspects, İmamoğlu said, “We need to ensure that every investment made by Turkey, which is an important part of Europe, will of course comply with universal values, and in this sense, we should create a good cooperation ground is essential,” he said.

“THE REST OF THE LINE WILL BE OPENED IN DECEMBER 2022”

Reminding that they opened the first part of the line, consisting of 9 kilometers and 12 stations, on the first day of 2021, İmamoğlu said, “With the financing need resolved in a short time, the construction works between Cibali-Eminönü, which consists of 1,1 kilometers and 2 stations, continue without hesitation. This section is planned together with the reconstruction of the Unkapanı bridge junction and the arrangement of Eminönü Square. We aim to open the rest of the line in December 2022”. Pointing out that with the complete termination of the project, the historical heritage and natural texture of the Golden Horn will find its true value, İmamoğlu shared the following information:

“When the tram line is fully put into service, approximately 150.000 people living around the line will have easier access to the sustainable transportation network. It will serve approximately 80.000 people daily. Thanks to the project, 30 tons of carbon dioxide emissions will be saved annually in 11.500 years. We also expect our line to increase women's mobility and support the elimination of gender inequality by providing a safe, quality and accessible journey. With the extension of the line to Eminönü, we anticipate that this line will create a very important tourism axis with the attraction created by the Golden Horn landscape project and contribute to the increase in the quality of life in the entire region.”

After the speeches, a preliminary protocol was signed between the parties. İmamoğlu, Gauvin, Marcelli and their accompanying delegation posed for a souvenir photo on the shore of the Golden Horn.

HOW WILL IMM USE THE FINANCE?

The financing, amounting to 93 million Euros, will be used for the construction of the Eminönü-Alibeyköy Tram Line project and the installation of the electromechanical systems. With the loan to be provided, 20 trains will be purchased and the remaining 1.1 kilometers of the line will be completed. The tram line will offer a better quality, efficient, low carbon emission and environmentally friendly alternative to the bus, minibus lines and car transportation that currently runs along the Golden Horn coast. When the tram line is considered together with the coastal landscaping, a quality urban development will contribute to the entire region. Thanks to the project, the annual amount of carbon emissions (CO30) that will be saved in 2 years will be 11.500 tons.

WHAT ARE AFD'S FIELDS OF ACTIVITY?

AFD is a public institution that implements the development and international solidarity policy of France. AFD teams; It is involved in more than 115 projects with a strong social and environmental impact in 4.000 countries on issues such as climate, transportation, biodiversity, peace, education, urban planning, health, and governance. AFD thus contributes to the sustainable development goals of cities.

Armin

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