Private support needed for Istanbul 2010

SEVDA YÜZBAŞIOĞLU

ISTANBUL – Referans

Support from the private sector is crucial to Istanbul's preparations to become European Capital of Culture in 2010, said the chairman of Istanbul 2010's Executive Board over the weekend.

Speaking at a reception held in Dolmabahçe Palace, Nuri Çolakoğlu said they expected $45 million in support from private companies, noting that their aim was to present art and culture as a viable investment tool.

Speaking to business daily Referans after the reception, Çolakoğlu said 12 companies had already become regular contributors to the event. �We have yet to announce our projects but later we will see these companies as project sponsors. We will gradually spread this out to the public because broad-based support is crucial to the success of this event,� he said.

He said this year's budget was YTL 285 million, noting that YTL 250 million of it would be going toward infrastructure investments. �YTL 35 million will finance cultural art events. If a bill waiting in Parliament is passed, the state will contribute YTL 250 million for the next two years,� he said.

Hüseyin Kavi, assembly president of the Istanbul Chamber of Industry, or ISO, and also the president of the Istanbul 2010 European Capital of Culture Consultation Council noted that 10 to 12 million tourists were expected to visit the city in 2010, leaving behind $10-15 billion in revenue. �We must see this as investment. We will start talking with the private sector and explain how this project may contribute to their firms,� he said.

�The real project development is starting now. We have important projects in the pipeline but they are not enough for 2010,� he argued.

Efforts are focused on rehabilitating Istanbul's heritage, introducing art and culture to districts that have seldom hosted such events and development of Istanbul's tourism potential and infrastructure.

In line with Istanbul 2010's slogan, �City of four elements,� 2010 will be divided into four quarter-year periods named after earth, air, water and fire.

Among the projects planned are the building of Ayazağa Culture Center, Istanbul Library and Youth Art Center.

Eminönü Square Management Project, renewal of the Atatürk Culture Center, or AKM, restorations at Topkapı Palace and Hagia Sofia Museum, protection of city walls in line with UNESCO norms and Kumkapı's rehabilitation are also among the projects.

*Nuri Çolakoğlu is chief executive officer at the Turkish Daily News.

Inform,27.05.08