World Bank gives loans to two Turkish cities for sustainability
WASHINGTONThe World Bank’s Board of Executive Directors has approved a $132.7 million loan for the Sustainable Cities Project in Turkey.
The project, which covers two cities, is the first in a series of projects aimed at improving the economic, financial, environmental and social sustainability of Turkish cities.
“The Sustainable Cities Project will assist cities in laying the groundwork for sustainable infrastructure through comprehensive and integrated municipal plans, linking these to a robust Capital Investment Plan,” the World Bank said in a Dec. 20 statement.
The project is part of a Program for Sustainable Cities to finance a series of projects over several years, allowing interested municipalities to access financing for their investments even after the approval of this first project.
“Over the past decades, the urban population in Turkey has increased, cities have sprawled, exceeding their mandated boundaries. Although access to services has increased significantly, the quality of services and long-term financial and environmental sustainability remain challenges,” said Johannes Zutt, the World Bank country director for Turkey, on the occasion of the loan approval.
“As the World Bank, we are happy to support Turkey’s urbanization process with this project to help it become more inclusive as it will contribute to urban growth and job creation in the country’s smaller cities.”
The municipal investments segment of the project will finance municipal infrastructure investments in public transport, water and sanitation, solid waste management and energy. The cities that stand to benefit immediately are Denizli and Muğla in the west.