Turkey: Istanbul Municipal Infrastructure Project

WASHINGTON, June 28, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

IBRD LOAN: US$322.15 million

TERMS: Grace = 5 years; Maturity = 15 years

PROJECT DESCRIPTION: The project’s main objectives are to a) improve solid waste management in the Istanbul Metropolitan Municipality and b) retrofit key facilities and infrastructure to strengthen their earthquake resilience, and upgrade institutions and their procedures to help them respond to emergencies.

For more information, please call Steven Jouy, at (202) 473-4215 or email: sjouy@worldbank.org