The Asian Development Bank (ADB) approved a 645.8-million-euros ($750-million) loan to finance the construction of a 127-kilometer railway line in Türkiye, advancing the country’s role as a vital transport and logistics hub linking Europe and Asia, the bank stated on Tuesday.
The Istanbul North Rail Crossing Project (INRAIL) aimed to bypass the Istanbul metropolitan area and provide a high-capacity overland rail link across the Bosporus.
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, providing faster, high-capacity, and more reliable movement of freight.
Gutierrez stated that the collaboration of international financial institutions maximized development impact and efficiency.
The bank designed the electrified route to relieve a supply chain bottleneck for both passengers and freight.
The Asian Development Bank and the World Bank cofinanced the initiative to streamline project preparation and deliver effective development support.
Officials projected the total cost of the project to be $8.27 billion.
The bank scheduled a second loan for the same amount for consideration in 2028.
The project aligned with Türkiye’s 12th Development Plan and the Transport and Logistics Master Plan.
Earlier in March, the World Bank approved a $2 billion in financing for the same project.
