EBRD approves Izmir metro loan

TURKEY: The European Bank for Reconstruction & Development is to provide Izmir municipality with a €125m loan to support construction of the first phase of the Üçyol – Buca driverless metro line.

The 13·5 km line will be entirely underground, with an end to end journey time of 20 min and interchanges with bus, tram and suburban rail services.

It will have 11 stations, including Üçyol where it will interchange with the Fahretin Altay – Evka 3 metro line, Şirinyer where it will connect with the Izban railway line, Dokuz Eylül Üniversitesi and Çamlıkule.

The total cost of construction is put at €1·07bn. EBRD announced the co-financing loan for the first phase on July 28 as part of its Green Cities programme, with the metro project’s aims including replacing private vehicles and shared minibuses, reducing traffic congestion and noise pollution and halving greenhouse gas emissions in the local area.

‘The project will leave a lasting mark on Izmir and will radically solve the traffic problem of Buca, the most congested district of our city’, said Mayor Tunc Soyer. ‘The new metro line will connect with other urban transport links, promote modern, fast, eco-friendly and safe commute, create employment and attract investors.’

The latest loan builds on the EBRD’s long-term cooperation with the city, where it provided an €80m loan in 2018 and a €25m B-loan to co-finance the construction of the 7·2 km Fahrettin Altay – Narlidere – Kaymakamlik western extension of the east-west metro line, €23·5m of financing for 85 metro cars and a €33m loan for five car ferries.