corporate_banner_en

EIB provides further EUR 200 million for Istanbul-Ankara High Speed Rail Line

Projects
Regions
European Union
Enlargement countries
Turkey
Iceland
Western Balkans
European Free Trade Association
Mediterranean Neighbourhood
FEMIP Overview
Supporting pan-Mediterranean initiatives
Financing & advice
FEMIP Loans
Private equity
Advisory & technical assistance
FEMIP Support Package
Procurement
How to apply
Trust Fund
Technical assistance
Private equity
Global dialogue
Partnerships
Organisation and staff
FEMIP Internship Programme
FAQ - FEMIP
EU Eastern Neighbours
Projects
Cooperation with other institutions and organisations
Financing facilities
Trust fund
Institutional framework
Applying for loans
Organisation and staff
Central Asia
Institutional framework
Cooperation with other institutions and organisations
Financing facilities
Technical assistance and grants
Applying for loans
Organisation and staff
Sub-Saharan Africa, Caribbean and Pacific
Funding and Financial Instruments
Applying for loans
Cooperation with partners
Investment Facility
Other initiatives
Activities
Asia and Latin America
Priorities
SMEs
Innovative options
Loans
Microfinance
EU partners for SMEs & mid-caps
Non-EU partners for SMEs & mid-caps
RDI support
Equity investment
Regional development
Climate Action
Urban & natural environment
Innovation
Skills and Jobs
Trans-European Networks
Transport
Energy
Project Cycle
Applying for a loan
Appraisal
Procurement
Monitoring
Projects to be Financed
Explanatory notes
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin & Central America
Breakdown by sector
Projects Financed
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin America
Breakdown by sector
Multi-criteria list
Operations Evaluation
Organisation and Programme
Programme
Methodology
Criteria
Rating scale
Process
Reports
Operations
Overview
Publications and reports
Cooperation and Coordination
ECG
European Financial Institutions
European Commission
Contacts

EIB provides further EUR 200 million for Istanbul-Ankara High Speed Rail Line

  • Available in: de en fr tr
  •  Release date: 10 June 2013
  •  Reference: 2013-081-EN

The European Investment Bank is providing EUR 200 million to the Turkish State Railways, as a further contribution to upgrading the country’s main transport corridor between Ankara and Istanbul.  This additional funding brings total EIB support for this high speed railway line to some EUR 1.5 billion.

The finance agreement was signed today in Ankara in a public ceremony. Mr İbrahim Çanakcı, Undersecretary of Treasury, signed on behalf of the Republic of Turkey, and President Werner Hoyer signed on behalf of the EIB, in the presence of the EIB Vice-President responsible for Turkey, Mr Pim van Ballekom, during an official visit to Turkey.

On this occasion, EIB President Werner Hoyer stated: “I am pleased to sign this loan agreement today bringing further EIB support for this flagship project linking Europe with Asia. This facility further consolidates the position of EIB as Turkey’s key financial partner for the funding of large priority projects and the country’s efforts to re-balance its transport mode mix in favour of the railways. I have also been informed with pleasure that this project is now progressing well towards its finalisation. As the EU bank, we have been a solid partner of Turkey for some fifty years. Our presence here today underlines the Bank’s commitment to strengthening growth and innovation in Turkey. Over the last decade, the Bank has lent as much as EUR 17bn. It is especially since 2005 that we have seen a surge in the Bank’s activity, which is now stands at a robust annual volume of some EUR 2bn. That makes Turkey the biggest recipient country by far of EIB funds outside the Union, and would even put it as the 7th largest beneficiary country in the Union. This growth in EIB financing is a reflection of the changes that have taken place within Turkey, and also between Turkey and the European Union.”

The project was first financed by the EIB in 2006.  It aims at building the country's first high speed railway between the country’s two largest cities.  It will interconnect with the Marmaray Bosphorus Tunnel, also financed by the EIB. In this way it will enable train connections between the two continents. Its merits are many and diverse, including ensuring substantial time savings for travellers, supporting economic development and quality of life and generating significant environmental benefits.

The project constitutes a key element of the Government’s plans to increase the share of rail transport by improving the productivity and effectiveness of railway operations. EIB has been strongly supporting this effort and hence the total value of EIB financing for the Turkish rail system in the last five years comes to some EUR 2.5 billion. 

In addition, the project is strongly supportive of key strategic objectives of EU policy and is a continuation of Pan-European Corridor IV.  The European Union is therefore also providing a grant of EUR 120 million to the HSL project through its Instrument for Pre-Accession (IPA) funds.  This project is therefore an excellent example of the complementary use of EU grants and EIB loans for this priority investment in the sustainable transport infrastructure of the country.



More photos





 Print
 Pdf
Copyright © European Investment Bank 2014
The European Investment Bank is not responsible for the content of external internet sites.

http://www.eib.org/projects/press/2013/2013-081-turkey-eib-provides-further-eur-200-million-for-istanbul-ankara-high-speed-rail-line.htm