Standard Chartered Bank announced that it has provided green financing worth 1.24 billion euros ($1.40 billion) to the Turkish Ministry of Treasury and Finance to fund the new high-speed rail line to be developed in northwest Turkey.
In a statement, the bank stated that the 200-kilometer-long railway line, which will connect Bandırma and Osmaneli, will ensure the economic integration of industrialized cities into the country's railway network.
Funding was provided by Danish Eksport Kredit Fonden (EKF), Swedish Exportkreditnamnden (EKN) and Swedish Export Credit Corporation (SEK) under the coordination of Standard Chartered.
Within the scope of the agreement, 100% funding will be made for the project development contract signed by the Ministry of Transport and Infrastructure with the contractor company Kalyon.
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