The Agreement regarding the 13 million Euro loan signed with the European Investment Bank (EIB) on 2011 December 400 for the additional financing of the Ankara Istanbul High Speed Train Project carried out by the General Directorate of State Railways entered into force.
The bank will pay the loan in maximum 16 slices. Except for the last one, which constitutes the last balance of the loan, each slice will be at least Euro 25 million. The first cost of the project for the construction of an electric, double-track high-speed railway with a length of 44 for passenger traffic between Gebze (478 kilometer east of Istanbul) and Ankara between TCDD and 2 billion was estimated at 566 million Euros. Due to some technical changes and additional structures, the total cost of the project was estimated to be 3 billion 648 million.
Within the scope of the decision, the project's financing form is expected to be:
. 2 billion 78 million Euros Turkish National Budget, 120 million Euros is the financial contribution provided by the European Commission under the Instrument for Pre-Accession Assistance, 1 billion 450 million Euros from the banks. “