Luxemburg, 19/12/2001 (Agence Europe) - The European Investment Bank (EIB) has announced plans for a EUR 185 million loan to Turkey for improving living conditions in Eskisehir, in Mid-Anatolia, and for the private sector, with special emphasis on the regions devastated by the 1999 earthquakes. The EIB funding will be allocated as follows:
EUR 110 million goes to the Greater Eskisehir Municipality for the construction of a new light rail system and the rehabilitation of amenities in conjunction with the Porsuk river that runs through the city. Part of the funds will be channelled through the Eskisehir Water and Sewerage Administration for the rehabilitation and extension of water supply, waste water and storm water infrastructure.
EUR 75 million for the replacement, reconstruction and rehabilitation of industrial installations affected by the August 1999 earthquake. This is the second and final EIB loan forming part of a larger facility of up to EUR 150 million approved in 2000. It goes to the Republic of Turkey which will onlend the funds to three major Turkish banks: Industrial Development Bank of Turkey, Industrial Investment Bank and Vakifbank.
The EIB's support is part of a larger framework, the "Turkish Earthquake Rehabilitation and Reconstruction Assistance" of a total of EUR 600 million over a three-year period running to the end of 2002.