Within the framework of meetings held in Istanbul, important agreements were signed regarding cooperation with the European Investment Bank (EIB), established to support social development with the participation of several member countries of the Council of Europe. These meetings aimed to strengthen Turkey's infrastructure and support its efforts in preparing for natural disasters.
Redaksiya reports that within the scope of the Istanbul Seismic Risk Mitigation and Emergency Preparedness Project (İSMEP), contracts were signed for additional financing of 230 million euros for Prof. Dr. Cemil Taşçıoğlu and Kartal Dr. Lütfi Kırdar city hospitals, and 50 million euros for the Marmaray Project implemented by the Ministry of Transport and Infrastructure. This step aims to increase Turkey's resilience against earthquake risk and accelerate recovery efforts after natural disasters.
The EIB, as Europe's oldest multilateral development bank focused on social development on the continent, was established in 1956 by 8 member countries of the Council of Europe, including Turkey, with the aim of supporting social development. The bank has made significant contributions to infrastructure and health projects focused on increasing Turkey's earthquake preparedness capacity and post-disaster recovery efforts, especially after the earthquakes of February 6, 2023. During the meeting, the positive progress of the ongoing relations with the EIB, of which Turkey has been a founding member since 1956, was discussed, and new cooperation opportunities were evaluated. The Paris-based bank currently has 43 member states. The bank operates with the aim of providing financial and technical support to projects with high social impact in its member countries. According to a statement from the Ministry, Monticelli and the delegation accompanying him made their first official visit to Turkey from February 10-12.
In the last 10 years, Turkey has received approximately 2.5 billion euros in financing from the EIB for public sector projects and the financing of small and medium-sized enterprises (SMEs). With these agreements, resources with favorable terms worth 280 million euros will be allocated to investments in Turkey. Monticelli met with Minister Şimşek within the framework of his visit to Turkey.