Turkey received a loan for the construction of a railway
The European Bank for Reconstruction and Development (EBRD) is providing the Turkish government with an additional € 150 million loan for the construction of the Ispartakule-Cherkezkoy section of the Halkali-Kapikule railway (Turkey-Bulgaria railway connection).
The EBRD financing was approved by the bank board of directors on November 10, 2021, and signed this week, informs Railway Supply magazine, citing Railway Pro.
“We appreciate the support and contribution of the EBRD to the Ispartakule-Cherkezkoy railway project, which is the first state-funded bank-financed transport project. It is expected to improve Turkey domestic and cross-border connectivity as well as being an important element for developing our productive partnership with the EBRD in the future, ”said Lutfi Elvan, Turkish Finance Minister.
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The Asian Infrastructure Investment Bank (AIIB) has offered € 300 million in parallel financing, and the Turkish government will provide the remaining € 640 million for the infrastructure project.
The project is expected to finance the construction of 67 km of a new double-track electrified high-speed railroad. The railway line is designed for the movement of trains at a speed of 200 km/h and is equipped with an ERTMS Level 1 system, a modern power supply system and auxiliary equipment.
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