Asian Development Bank approves $750M loan for new railway line in Türkiye

The Asian Development Bank approved a €645.83 million ($750 million) loan to finance the construction of a 127-kilometer railway line in Türkiye, the bank stated 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 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.