European support for Kanalistanbul

Published 09.05.2011 14:07
Updated 09.05.2011 14:08

Assessing the new ‘Kanalistanbul’ project, European Investment Bank Vice President Matthias Kollatz-Ahnen states, “It is our duty to support giant projects that will skip generations.”

While discussing the Kanalistanbul project, Kollatz-Ahnen said, "We have helped finance the Istanbul- Ankara speed train, the Marmaray and tube-tunnel project as well as a number of other historical projects. If a request is made regarding the Kanalistanbul project, we would be pleased to evaluate it."
Noting that Kanalistanbul is one of the world's 'unique' projects, Kollatz-Ahnen goes on to state, "If this project is indeed to be realized, then as the European Investment Bank, we would have to conduct a detailed inspection. We would be honored to receive a request regarding the project. At this stage, it is too early to say we will offer credit. A number of studies, such as feasibility would need to be conducted."

Kollatz-Ahnen explained that it was State Minister and Chief Negotiator Egemen Bağış who shared details of the project and went on to state that even though it may still be in the development stage, they will be following the project with interest. Explaining that they were pleasantly surprised to see Turkey realize 8.9 percent growth last year, Kollatz-Ahnen states that Turkey will continue to remain one of the fastest growing economies in Europe. Kollatz-Ahnen also expressed that the bank, which acts as the EU's long term financing unit, will continue to provide Turkey with approximately two billion Euros of financing annually, in accordance to the current budget period which ensues until 2013.

Share on Facebook Share on Twitter