EIB provides further €200m for Istanbul-Ankara high speed railway

The European Investment Bank is providing €200m (£170m) to Turkish State Railways for the upgrade of the country’s main transport corridor between Ankara and Istanbul.

This additional funding brings total EIB support for the Istanbul-Ankara high speed railway line to some €1.5bn.

The finance agreement was signed in Ankara in a public ceremony. Mr İbrahim Çanakcı, undersecretary of treasury, signed on behalf of the Republic of Turkey, and president Werner Hoyer signed on behalf of the EIB. Hoyer said: “I am pleased to sign this loan agreement today bringing further EIB support for this flagship project linking Europe with Asia.”

The project was first financed by the EIB in 2006. It aims at linking the Turkey’s two largest cities with the country’s first high-speed railway.

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Source : The Construction Index

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