A 30 million Euro Authorization Letter was signed between the Izmir Metropolitan Municipality and the European Bank for Reconstruction and Development to be used in the Fahrettin Altay-Narlıdere metro line project. Mayor of Izmir Metropolitan Municipality Tunç Soyer, said that with this financing, Narlıdere Metro will be completed on 30 August 2023.
Mayor of Izmir Metropolitan Municipality Tunç Soyer and Sue Barrett, Infrastructure Director of the European Bank for Reconstruction and Development (EBRD), signed a 30 million euro authorization letter to be used in the Fahrettin Altay Narlıdere Engineering School Light Rail System Line Project. Sue Barrett, EBRD Infrastructure Director, attended the signing ceremony in the Sovereignty House meeting hall online. The President said they were very excited. Tunç Soyerstated that the project will be completed at the end of August and they are happy about it. Soyer said, “There are difficulties due to the economic developments in the country. Thank you for your understanding and support during this difficult process. We had the opportunity to complete the project. With this financing, Narlıdere Metro will be completed on August 30, 2023”.
Thanks to President Soyer for cooperation
EBRD Director of Infrastructure Sue Barrett said, “We want to come to İzmir and see this magnificent project we have done together. Izmir is a wonderful city. We are also excited that this project will come to fruition. Thank you for your cooperation,” she said. After the speeches, the letter of authorization was signed.
A total maturity of 2 years, including a 10-year principal grace period
Since President Soyer took office, a total of 186,3 million Euros of external financing has been provided within the scope of the Narlıdere Metro Project, without the guarantee of the Treasury. The project, which will be completed with the 30 million Euro Authorization Letter signed with the EBRD, will have a total maturity of 2 years, including a 10-year principal grace period.
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