175 Million Euro Loan Found for Istanbul Metro

million euro loan for istanbul metros
million euro loan for istanbul metros

The European Bank for Reconstruction and Development (EBRD), the Black Sea Trade and Development Bank (BSTDB) and Societe Generale have agreed to provide a total of € 175 million euros for the development of the metro line in Istanbul.

According to the EBRD website, the EBRD has approved the 20 million Euro loan for the construction of a new metro line in Istanbul, with 97,5 million euros being provided by Societe General. In addition, the Black Sea Trade and Development Bank will also provide 77,5 million credits to the project.

Yeni Üsküdar Çekmeköy, Kadıköy Tavşantepe and Marmaray Extension Lines

The new line, which will be approximately 13 kilometers long, will contribute to Üsküdar Çekmeköy, Kadıköy Tavşantepe and Marmaray lines and it is planned to carry approximately 350 thousand passengers. It is stated that the total cost of the new metro line project in Istanbul is 410 million Euros.

EBRD Director for Turkey, Turkish Arvid: "The EBRD's support and Turkey, I am pleased that this deal they can offer exemplary. We started this agreement at a time when commercial banks were difficult to withdraw. This shows that we are a reliable partner in difficult times..

EBRD supports the 2009 project by financial support with a total of 11,5 Billion Euros by 300. The EBRD provides this support for both government agencies and private companies.

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