About 70 percent of the city area is served by concrete septic tanks, while the balance, mostly hotels and industries, are connected to private sewerage systems. Although septic systems work well on limestone formations, the high volume of waste poses a potential threat to the health of the city's water supply, health, fisheries and tourism industry. These systems can no longer handle the demands of a rapidly growing city. The new sewerage network will be built mostly in the western part of the city, where the water table is high and construction of septic tanks is not feasible. The project supports an official shift of investment responsibility from the central government to the city of Antalya, which expects to recover costs through user charges.
Risk lies at the heart of all financial endeavor.
Because risk is often as much a matter of judgment as hard evidence, differing perceptions of risk make markets. Official financial institutions such as ours are not always comfortable with the thought that mere perceptions can be so important. But we, the World Bank Group, must become more comfortable with risk. Spreading the burden is more necessary than ever because risk today can be global, huge and very volatile. Capital flows are a vivid example.