The European Investment Bank (EIB) is providing €718 million in loans to support Turkey’s rail transport, electricity distribution and renewable energy sectors, furthering the country's status as the largest recipient of EIB financing outside of the European Union.
The largest single loan comprises a €293 million facility for the Turkish State Railways company. It will help fund the construction of a high-speed rail corridor between Ankara and Istanbul, Turkey’s two largest cities. EIB has invested a total of €850 million in the project since 2006.
Local development banks Türkiye Sinai Kalkinma Bankasi and Türkiye Kalkinma Bankasi will receive €300 million between them for small to medium-sized investments targeting renewable energy, energy efficiency and pollution abatement. Both banks are long-standing partners of EIB in Turkey.
The remaining €125 million will be lent to the Turkish Electricity Distribution Corporation to help fund the expansion and upgrade of its existing electricity networks.
EIB lends €718m to Turkish infrastructure
The loans will target high-speed rail, electricity distribution, renewable and clean energy projects.
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