ADB Approves $750 Million Loan for New Railway Line Enhancing Turkiye's Transport and Logistics Connectivity
Turkey, June 9 -- The Asian Development Bank (ADB) has approved a €645.83 million ($750 million equivalent) loan to help finance the construction of a 127-kilometer (km) greenfield railway line in Turkiye, advancing the country's role as a vital transport and logistics hub linking Europe and Asia through more competitive, reliable, and cost-effective rail infrastructure.The Istanbul North Rail Crossing Project-cofinanced under the ADB-World Bank Full Mutual Reliance Framework (FMRF)-will bypass the Istanbul metropolitan area and provide a high-capacity overland rail link across the Strait of Istanbul. The line will help drive economic growth, enable private investment, generate jobs, and improve the resilience of Turkiye's logistics c...
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