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The Asian Development Bank (ADB) has approved a loan of €645.83 million, equivalent to $750 million, to finance the construction of a new railway line in Turkey. This 127-kilometer route is intended to improve the country’s transport and logistics connections between Europe and Asia and strengthen Turkey’s role as a key transport hub, according to the ADB.
New rail connection for Istanbul
The project, named „Istanbul North Rail Crossing,“ is co-financed under the ADB and World Bank’s Full Mutual Reliance Framework (FMRF). The new railway line will bypass the Istanbul metropolitan area and create a connection across the Istanbul Strait. This is expected to not only boost economic growth but also encourage private investment, create jobs, and enhance the resilience of Turkish logistics corridors.
Leah Gutierrez, ADB Director General for Central and West Asia, emphasizes the strategic importance of the project: „This flagship rail project will strengthen Turkey’s strategic role as an important link between Asia and Europe by enabling faster, more efficient, and reliable freight transport. The project will also connect the country’s two main airports to the rail network.“
