EIB has Granted Loan for TCDD High Speed Railway Project

The European Investment Bank has provided a significant $432 million loan to Turkey for a high-speed rail project connecting Ankara and Istanbul, part of a larger Pan-European Corridor IV initiative that includes the Marmaray Bosphorus Tunnel.

December 14, 2009 9:10 pm | Last Update: August 9, 2015 9:13 pm

The European Investment Bank (EIB) has granted a $432m (€293m) loan to Turkey to finance a key rail project.

The $3.8bn (€2.6bn) project involves the construction of a high-speed railway between Ankara and Istanbul and is aimed at cutting travel times and improving the economy.

The railway is also a continuation of the Pan-European Corridor IV, linking with the Marmaray Bosphorus Tunnel
Project to allow high-speed trains to run across the two continents.

The loan agreement has been signed with Türkiye Cumhuriyeti Devlet Demiryollari (TCDD) and brings the EIB’s total investment in the project to $1.25bn (€850m).

TAGS: eib tcdd loans, european railway corridors, pan european transport corridor 4, Pan-European Corridor IV, turkey high speed railway project latest issue

railwaynews

Railway infrastructure, rolling stock and transport technologies specialist focused on global rail industry developments, high-speed rail systems, signaling technologies and freight transportation. Covering railway investments, public transport modernization, rail operations and international mobility projects across Europe, Asia and North America.