Purchase of a Student Hostel in Eskişehir, Turkey
Hope Foundation for Education
The project aims at the purchase of a student hostel in Eskisehir, Turkey and renting the residential units to generate a regular income for Umut Eğitim Vakfı, Turkey to support its educational activities.
The project entails the purchase of a property comprising a land (7,460 m²) together with, five existing hostel buildings on it, with a total built-up area of 15,590 m² having a capacity to accommodate 964 students.
The “Umut Eğitim Waqf” (Hope Foundation for Education – (Turkey is the Beneficiary and Executing Agency of the project. The Waqf was established in Turkey in 2016 and registered as a Waqf Organization. Its goal is to provide educational support to the most deprived people.
The total cost of the project is estimated at US$ 5.40 million. IsDB will finance part of the cost of the project for an amount of US$ 3.80 million (APIF: US$ 3.80 million). The Beneficiary will contribute the remaining amount of US$ 1.60 million.