Izmir Water and Sewerage Administration (IZSU)

IZSU Support

Industry
Infrastructure/Water & sewage networks
Area of finance
Development Bank Finance
Region
Europe
Countries
Turkey

Deal Overview

The proposed IFC investment is an IFC A Loan of up to US$34 million, equivalent in local currency, to the Izmir Water and Sewerage Administration (“IZSU”), fully guaranteed by the Izmir Metropolitan Municipality (“Izmir Municipality” or the “City”), to ensure...

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The proposed IFC investment is an IFC A Loan of up to US$34 million, equivalent in local currency, to the Izmir Water and Sewerage Administration (“IZSU”), fully guaranteed by the Izmir Metropolitan Municipality (“Izmir Municipality” or the “City”), to ensure sustained access and quality of services to IZSU’s one million customers and support the City’s long-term water and wastewater infrastructure resilience.                                                  

Associated Advisory Engagement

The proposed investment is reinforced through a value added advisory support targeting to ease the impacts of COVID-19 (under ECA Cities Platform, #601115): Using a sophisticated behavioral insights approach, a joint IFC/IBRD Team is devising public awareness campaigns to encourage on-time water bill paying and water saving measures (with IZSU), and safe bus ridership (with ESHOT, public transport company). While this engagement will be increasing the resilience of the natural resources of the City (water savings), it will also help in easing the financial impacts of the COVID-19, by limiting the City’s subsidies to the public transport company (recovery in ridership levels post-COVID). In parallel, IFC Team recently concluded another advisory support to the City for developing an Open Data Implementation Strategy, targeting to improve transparency, public service delivery, catalyze digital development, while contributing to creation of jobs in Izmir. Both engagements are being tested by IFC for the first time in Izmir, which is expected to support business development activities with other cities in the region and globally.    

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Deal Volume
$ 34m
Financial Close
11 August 2021
Sources

All Dealmakers

Tranches


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