Treasury guarantor of construction projects worth $8 bln in 3 years

Turkeyand’s Treasury agreed to provide a major financial guarantee to roughly $8 billion worth of construction projects in the past three years, despite harsh criticism of a retroactive regulation that has paved the way for state guarantee for contractors of colossal infrastructure projects.
According to a regulation published in the Official Gazette in April of last year, the Treasury was allowed to act as guarantor for build-operate-transfer (BOT) projects that involve a minimum investment of TL 1 billion, as well as for projects undertaken by the Ministries of Health and Education with minimum investments of TL 500 million. The Treasury will guarantee the repayment of 85 percent of loans secured for projects if a project fails due to the fault of the company and 100 percent of outstanding loans if issues outside of the companyand’s control prevent a projectand’s completion.
Since then, the Treasury has agreed to stand as guarantor for a loan worth $960 million taken for Istanbuland’s Avrasya Tunnel Project, a highway beneath the Istanbul Strait for light vehicles, which is planned to open in the first half of 2017.
A loan worth $2.38 billion obtaineds Protection Units
The body of Aziz Ganduler, who was killed while fighting against the Islamic State of Iraq and the Levant (ISIL) in northern Syria, was allowed into Turkeyand’s southeastern province of ianliurfa after almost two months of the authorities denying it entry into Turkey.
Ganduler was killed on Sept. 21 in a landmine explosion in northern Syria while fighting for a local group believed to be linked with Syrian Kurdish militia group the Peopleand’s Protection Units (YPG) against ISIL. His body was taken to a hospital in Ras al-Ayn (Serekaniye in Kurdish) to be brought to Turkey, but Turkish authorities declined to allow his body into the country.
According to a report on the TV station IMCand’s website, Gandulerand’s family brought their sonand’s body into Turkey on Thursday morning thorough the Manduriitpinar border gate, following permission from the Turkish authorities, and took it to ianliurfa. It is to be transported to Istanbul for burial.
Previously, Gandulerand’s father and brother, Mehmet Ganduler and Ersin Umut Ganduler respectively, along with pro-Kurdish Peoplesand’ Democratic Party (HDP) deputy ibrahim Ayhan applied to the Suruandc district governorate.
After the reply from the district governorate Gandulerand’s family entered Syriaand’s Kurdish town of Kobani along with 16 other families whose relatives had been killed while fighting in the YPG ranks and had their bodies denied entry into Turkey.
The second appeal to the southeastern province of Gaziantepand’s Suruandc district governorate to take Gandulerand’s body back into Turkey was denied by the authorities. The family then appealed to the Constitutional Court, which reportedly denied the request, saying the denial of the bodyand’s entry did not pose any threat to the moral and material unity of the family. Upon denial of their requests by the top court, the family applied to the European Court of Human Rights.
A petition was also launched on the change.org website in favor of returning Gandulerand’s body to Turkey.
The YPG, the armed wing of the Democratic Union Party (PYD), is a separate organization to but is closely aligned with the terrorist Kurdistan Workersand’ Party (PKK). Turkey launched air strikes on PKK targets in late July, for the first time since 2012 when a peace process was launched, although it says the Syrian Kurdish forces are not a target of its operations.
Scores of Turkish Kurds are believed to have traveled to Syria to join the YPGand’s ranks and fight against ISIL.

This photo showing Aziz Ganduler is taken from Twitter.

SOURCE: TODAY’S ZAMAN

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