Izmir, Turkey, December 10, 2012—IFC,
a member of the World Bank Group, is providing Izmir Metropolitan Municipality
a senior loan of up to €45 million to help the city finance a traffic
management system and purchase new emergency vehicles, promoting economic
growth by increasing urban mobility and enhancing public safety and security.
The traffic management system includes
the installation of a traffic adaptive signal control system covering several
hundred intersections, an expanded fiber optic network, and the construction
and operation of a traffic control center. In addition, the loan will finance
the purchase of over 100 emergency response vehicles and related search
and rescue equipment.
Izmir Metropolitan Municipality Mayor
Aziz Kocaoglu said, “The intelligent traffic system will modernize traffic
management in the city and make life easier and safer for our citizens.
The new emergency response vehicles will increase the capacity of our fire
department to respond to emergencies. These projects are another important
step in our strategy to position the wonderful city of Izmir as a competitive,
sustainably developed global city.”
Dimitris Tsitsiragos, IFC Vice President
for Europe, Middle East and North Africa, said, “This investment is part
of IFC’s strategy to step up its support to local governments in Turkey
by providing access to long-term financing and to help implement urban
infrastructure projects that will improve the lives of Turkish citizens.”
Turkey’s main port on the Aegean coast,
Izmir and its nearly 4 million inhabitants constitute the third-largest
of the country’s 16 metro municipalities.
IFC has been supporting private sector
development in Turkey for over 45 years, and Turkey is the fourth-largest
country in IFC’s global portfolio. From 2008 to 2011, IFC invested $2
billion in new commitments in 47 projects, and mobilized $1.7 billion through
other financial institutions.
In fiscal year 2012, IFC invested $450
million in 13 projects in priority areas in Turkey, supporting exporters,
micro, small and medium enterprises, renewable energy, energy efficiency,
cleaner production and energy security, health, infrastructure, trade finance,
and Turkish companies investing in the region and beyond.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.