The European Investment Bank has provided 400 million euros in favour of Turkish State Railways (TCDD) as a further contribution to the country’s main transport corridor between Ankara and Istanbul. The additional funding brings the total EIB support for the high speed railway line to 1.25 billion euros and the total value of EIB support for the Turkish rail system in the last decade to some 2.4 billion euros. This facility further consolidates the position of EIB as Turkey’s key financial partner for the funding of priority railway projects and the country’s efforts to re-balance its transport mode mix in favour of the railways.

The project constitutes a key element of the Government’s plans to increase the share of rail transport by improving productivity and effectiveness of railway operations. It will interconnect with the Marmaray Bosphorus Tunnel, enabling train connections across the two continents. In addition, the project is strongly supportive of key strategic objectives of EU policy and is a continuation of the Pan-European Corridor IV. The project will lead to significant time gains for travellers along the corridor and will assist economic development and quality of life as well as generating significant environmental benefits.

(Source: EIB)