Turkey receives EU dunfing to build railway line 31/12/21

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Source: https://intermodalnews.pl/2021/12/30/turcja-otrzymala-finansowanie-budowy-linii-kolei-duzych-predkosci-do-europy/


Turkey has received funding for the construction of high-speed rail lines to Europe




Author: Łukasz Kuś 2021/12/30

Turkey received loans for the construction of the Ispartakule-Cerkezkoy high-speed railway, which is part of the Europe-Caucasus-Asia transport corridor. This investment is financially supported by the European Union.

photo: EC

The Asian Infrastructure Investment Bank (AIIB) granted a loan of EUR 300 million to the Turkish government, and a loan of EUR 150 million to the European Bank for Reconstruction and Development. The money will be used to finance the Ispartakule-Cerkezkoy HSR line located in the European part of Turkey west of Istanbul. It is a part of the Halkala-Kapikule railway line, which is a strategic project within the framework of the International Trans-Caspian Transport Route, i.e. Central Corridor connecting Turkey (and Europe) with Georgia, Azerbaijan, Kazakhstan and China. The construction of the Turkish section of high-speed lines received financial support of EUR 275 million from the European Union Pre-Accession Funds.

The Halkali-Kapikule line will be built in accordance with the technical specifications of the European TEN-T network and is to improve the transport of goods, especially intermodal transport between Turkey and other Asian countries to the EU. The strategic goal of the project is to shift cargo from road to rail, thus reducing greenhouse gas emissions.

- AIIB's investment in the project is considered to finance climate change mitigation and falls under the Bank's strategy for the transport sector. It is also in line with the AIIB's thematic priorities for connectivity, regional cooperation and green infrastructure, commented Supee Teravaninthorn, director of AIIB's infrastructure investment department.

International corridor

Turkey's role as a transit country and potential logistics hub of Eurasian importance has increased after the launch of intermodal services through the Bosphorus tunnel in 2019. The first train from China to Prague started in October2019. The launch of regular feeder connections between Baku and Aktau in Kazakhstan contributed to the increased interest of logistics operators in the Central Corridor.

- We appreciate AIIB's support and contribution to this project, which will provide Turkey with a high-standard railway connection with European countries that is safe, fast and clean for both freight and passenger transport. It is also very important from the point of view of being the first public project financed by the AIIB and the EBRD in the field of transport. Completion of the project will be a major step in strengthening our country's position as a bridge between East and West, commented Serhat Köksal, director of international relations at the Turkish Ministry of Treasury and Finance.

The new railway line will also be of great importance to Turkish exporters. Trade between the EU and Turkey has developed rapidly in recent years. Further regular intermodal connections between Istanbul and European countries are also launched.