15 October Thursday

A Special Seminar on Investment Held for IMM

An international ‘webinar’ designed especially for the IMM has been held under the coordination of Istanbul Investment Agency (IIA) and International Finance Corporation (IFC) to introduce the Public-Private Partnership (PPP) models, practices of several countries and established international standards. Finance specialists from all over the world discussed the PPP model during the two-week online seminar. Mayor İmamoğlu also stated that the PPP may serve as a model for financing “HIZRAY” project.

International finance specialists from Singapore, Myanmar, Austria, United Kingdom, Egypt, Morocco, Brazil, Croatia, Serbia, the Philippines and Italy attended the two-week long ‘webinar’ program on Public-Private Partnership conducted with the cooperation of IYA and IFC – a member of the World Bank Group.

Potential Cooperation Models Discussed 

Information on Public-Private Partnership models, best practices of countries and international standards have been exchanged throughout this program built particularly for the IMM with the initiative of the IIA. The online seminar has received broad participation and within the scope of “Introduction to Municipal PPPs” and “Projects and Sectors of Municipalities” themes, subjects such as “Solid Wastes”, “Potable Water Supply, treatment and reuse of wastewater”, “Health and Education” and “Transportation Services” and the experiences of Manila-Egypt-Belgrade as part of PPP Best Practices and the Legal Framework of the Municipality PPPs in Turkey and PPP Departments have been examined. 

IIA: “We are Ready to Cooperate”

Taking the floor in the seminar, CEO of IIA, Nihat Narin mentioned that proper introduction of Istanbul’s environment for investment to the world was among Istanbul Investment Agency and added that IMM was ready to cooperate within the scope of the PPP model. Narin continued: “Examining and evaluating the investment model alternatives for launching the investment projects within the body of the affiliates and subsidiaries of our Municipality are among the operations of the Istanbul Investment Agency. The public-private partnership (PPP) model, extensively implemented in major investments in the world and Turkey is one of these models. Therefore, for examining the PPP model and for assessing its feasibility, we have been in contact with one of the world’s most experienced institutions, IFC, which is a member of the World Bank Group that works on private enterprises. Our Agency is available to provide support in all investment stages in the upcoming period, in terms of the selection and planning of the investments to be conducted in line with the PPP model and for enabling the coordination between all groups in the international arena such as the investors, financiers, intermediary institutions and legal experts.”

“We are willing to build strong ties with IMM”

IFC Country Manager for Turkey, Arnaud Dupoizat commented on the subject:  “PPPs are helping governments worldwide draw on technical innovation and the management expertise of the private sector while enabling increased investment in vital infrastructure and driving economic growth,” and added that they were looking forward to strengthening their existing relations with IMM.

Mayor İmamoğlu Underlined An ‘Ethical’ PPP Model                  

Pointing that PPP may serve as a prominent model for the HIZRAY Project, on financing the project Mayor İmamoğlu said, “This is a project with an approximate value of $5 billion with a construction schedule based on 4 years. The project cost bears the capacity for the implementation of an ethical build-operate-transfer model. We have been conducting talks to this end and have the capacity for the execution through a favorable loan capability given the licenses is granted. We have already negotiated on its infrastructure. We aim to launch the project in the 6th month of 2021 and the construction will take 4 years.”

About IFC

IFC—a member of the World Bank Group—is the most influential global development institution to focus on private sector in emerging markets. IFC works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, IFC invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

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