The Asian Development Bank approved a $750 million loan to finance the construction of a 127-kilometre railway line in Türkiye, the bank said on Tuesday.
The Istanbul North Rail Crossing Project aimed to bypass the Istanbul metropolitan area and provide a high-capacity overland rail link across the Strait of Istanbul.
The project planned to connect two main airports to the national rail network.
Asian Development Bank Director General for Central and West Asia Leah Gutierrez said this flagship rail project reinforced Türkiye’s strategic role as a key link between Asia and Europe.
Gutierrez stated that the collaboration of international financial institutions maximised development impact and efficiency.
The bank designed the electrified route to relieve a supply chain bottleneck for both passengers and freight.
