Izmir Metropolitan Municipality Mayor Tunç Soyer and European Bank for Reconstruction and Development (EBRD) Infrastructure Director Sue Barrett signed a 30 million euro authorization letter to be used in the Fahrettin Altay Narlıdere Fortification School Light Rail Line Project. Sue Barrett, EBRD Infrastructure Director, attended the signing ceremony at the Sovereignty House meeting hall online. Stating that they are very excited, President Tunç Soyer stated that the project will be completed at the end of August and that they are happy about it. Soyer said, "There are difficulties due to the economic developments in the country. I would like to 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,”he said.
Thanks to President Soyer for his cooperation
Sue Barrett, EBRD Infrastructure Director, said: "We want to come to Izmir and see this amazing project that we are doing together. Izmir is a wonderful city. We are also excited that this project will come to life. I thank you for your cooperation,”he said. After the speeches, the authorization letter was signed.
total term of 10 years, including 2 years principal non-repayment period
Since President Soyer took office, a total of 186.3 million euros of external financing has been provided without Treasury guarantee within the scope of the Narlıdere Metro Project to date. The project, which will be completed with a 30 million euro Authorization Letter signed with the EBRD, will have a total term of 10 years, including a 2-year principal repayment period.