The ISMEP Project was initiated by the Istanbul Governorship Istanbul Project Coordination Unit (IPCU) in 2006 with the first loan of 310 million Euro obtained from the World Bank, and it has now reached a total volume of 2.5 billion Euro with the facilities obtained from other multinational development banks and financial institutions participating in the project over time as a result of the success of the project goals and outputs.
After the World Bank (WB), European Investment Bank (EIB), Council of Europe Development Bank (CEB), Islamic Development Bank (IsDB), German Development Bank (KFW), Asian Infrastructure Investment Bank (AIIB) and the Economic Cooperation Organization Trade and Development Bank (ECO Bank), the Saudi Fund for Development (SFD) became the eighth institution to advance a loan facility to the ISMEP Project.
The Loan Facility of 55 million Dollar under the Agreement signed between the Saudi Fund for Development (SFD) and the Ministry of Treasury and Finance of the Republic of Türkiye in March 2024 to contribute to the Istanbul Seismic Risk Mitigation and Emergency Preparedness Project (ISMEP) started to be utilized within the scope of the ISMEP Project as of April 2024.
By ensuring the best optimization of the architectural design and technical equipment in the buildings that have been rendered safe within the scope of ISMEP, and through achievements in areas such as energy efficiency, health and hygiene standards, service continuity, and uninterrupted service during disasters, the standards and comfort of the buildings have been increased.
We would like to thank the officials of the Ministry of Treasury and Finance and the Saudi Fund for Development with whom we have had the opportunity to work together in this process, for their support.
We wish a good luck to our country.