The European Investment Bank has released details of new proposals now under consideration to fund major flood prevention and protection works in Turkey.
The project will co-finance the national contribution of the Republic of Turkey to the country's flood prevention works - the loan will be used for the construction of flood prevention and mitigation works across the country.
The proposed EIB finance is for EUR 100 million towards a total cost of EUR 450 million. According to the EIB, the equivalent of the EIA and SEA requirements, as well as requirements for the protection of areas of special interest equivalent to those of the Natura 2000 network in relation to planned works will be assessed in the appraisal. Particular attention will be given to local effects on nature in project design.
The promoter in Turkey acting as the Financial Intermediary is Devlet Su Isleri Genel Mudurlugu (General Directorate of State Hydraulic Works) http://www.dsi.gov.tr.
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