Established in 1987, IZSU is the public water utility of the City of Izmir providing water and wastewater services to ~1 million subscribers. IZSU is 100% owned by the Izmir Municipality. IFC provided EUR 28 million A loan in 2013 to IZSU Wastewater project, #32078, and EUR 11.25 million A Loan in 2015 to IZSU Sewerage project, #36080. The City is the third largest of the country’s metropolitan areas, serving a population of nearly 4.4 million inhabitants.

IZSU has a good credit profile and a self-sustaining business model, operated by an experienced administration that has been able to maintain a prudent financial management and adequate liquidity. The General Manager of IZSU, Mrs. Aysel OZKAN, was appointed in May 2020 following the retirement of Mr. Raif CANBEK. The Board of Directors of IZSU is composed of Mr. Mustafa Tunc SOYER, the Mayor and Chairman of the Board, Mrs. Ayse Suzan GOK, Mrs. Tulay YILMAZ, and Mrs. Serpil BARAN.

  The Project combines several high impact water and wastewater infrastructure investments, including water-supply network rehabilitation projects, rainwater collection network and sewerage separation projects, and a potable water treatment plant, with a total investment cost of TL 236.1 million.

The proposed IFC financing is up to local currency equivalent (TL) of USD 34 million for IFC’s own account.                                                                                                   

  The investment plan includes 8 different water and wastewater infrastructure investments in various districts of the city Izmir in Turkey. Respective locations are Urla, Mordogan, Kemalpasa, Bornova, Foca, Gultepe, and Odemis districts of Izmir.