IFC to support wastewater treatment in Izmir
Izmir, Turkey, April 30, 2013 —
IFC, a member of the World Bank Group, will provide Izmir a senior loan of up to €28 million to finance a major expansion of the city’s main wastewater treatment plant.
Run by the General Directorate of Izmir’s Water and Sewerage Administration (IZSU), the Çiðli Wastewater Treatment Plant serves more than 2.8 million people – 80 percent of Izmir’s total population – and is currently operating at full capacity. The expansion will involve the construction of a fourth module of the WWTP increasing the overall treatment capacity by 35 percent to avoid overflows and absorb the additional wastewater generated by the rapidly growing population.
“The construction of the fourth phase will allow IZSU to shut down the earlier modules for maintenance,” said the mayor of Izmir Metropolitan Municipality, Aziz Kocaoðlu. “The result will be a more efficient and higher capacity treatment facility that will contribute to our efforts to preserve the environmental sustainability of the Izmir Bay.”
Dimitris Tsitsiragos, IFC Vice President for Europe, Middle East and North Africa, said: “IFC will promote sound environmental standards by helping one of the top-tier water utilities in Turkey expand its wastewater treatment capacity. This investment is part of IFC’s strategy to step up support to local governments in Turkey by providing access to long-term financing and helping implement urban infrastructure projects, improving the lives of Turkish citizens.”
As the main port on the Aegean coast, Izmir is one of the most vibrant cities in Turkey, with nearly four million inhabitants. The Metropolitan Municipality of Izmir, Turkey’s third largest municipality, is the government body responsible for providing infrastructure services to the area. IZSU was established in 1987 as the water utility of the Metropolitan Municipality of Izmir and provides the metropolitan area with drinking water and wastewater services.
IFC has supported private sector development in Turkey for over 45 years. Today, Turkey represents the second-largest country commitment in IFC’s global portfolio. In 2013, IFC has already invested $500 million in Turkey, mainly in priority areas: supporting exporters, SMEs, renewable energy and energy efficiency, cleaner production and energy security, urban infrastructure, trade finance, and helping Turkish companies expand. Last year IFC has provided Izmir a senior loan of up to €45 million to finance the traffic management system and new emergency response vehicles.
IFC, a member of the World Bank Group, is the largest global development institution focused 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. IFC considers water as a priority sector for development and has global expertise in financing and advising water utilities on their investments. For more information, visit