EIB provides more than 200 million EURO for Istanbul-Ankara High Speed ​​Line

The EIB, the Istanbul-Ankara High Speed ​​Train 200 million Euros are more available for the Line: The European Investment Bank, the country's new contribution to the Republic of Turkey to the main transport corridor between Ankara and Istanbul State Railways account 200 million Euros was passed. With this additional funding, the total EIB support for the high-speed train line is at the level of 1.5 billion EURO.

The financing contract was signed with an official ceremony in Ankara today. Mr. Undersecretary of the Treasury on behalf of the Republic of Turkey. Ibrahim Çanakcı, on behalf of the EIB EIB President Werner Hoyer, EIB Vice President responsible for Turkey's host during an official visit to Turkey. They signed with the participation of Pim van Ballekom.

On this occasion, EIB President Werner Hoyer made the following statement: “I am delighted to be signing this loan agreement, which further increases EIB support for this admiral project connecting Europe and Asia. This ease Turkey's large-scale priority projects and transport method and the position of the EIB funding as a key partner of these countries in the work to change the balance in favor of the railways is further strengthened. I happily received the knowledge that it is still rapidly progressing towards the final stage of this project. We have a strong partner in Turkey for about fifty years as EU banks. Our presence here today, underlines the Bank's growth and innovation to strengthen stability in Turkey. Over the past decade, the Bank has secured a high loan of EUR 17 billion. Especially since 2005, we see a leap in the Bank's activities that today its annual volume has reached a strong level with about 2 billion EURO. This is Turkey the largest recipient of EIB hitherto outside the Union and Union funds, including evaluation of the 7th brings the biggest beneficiary of the position. This increase EIB financing in Turkey and is also a reflection of the changes that occurred between the European Union and Turkey ".

This project was first funded by the EIB in 2006. It aims to build the first high-speed train line between the two largest cities in the country. It will also provide a reciprocal link with the Marmaray Bosphorus Tunnel, which is being financed by the EIB. Thus, the train connection between the two continents will be possible. There are also numerous and varied benefits that will provide significant time savings for passengers, support economic development and quality of life, and bring significant environmental gains.

The project is a key element of the government's plans to increase the share of rail transport by improving efficiency and effectiveness in rail operations. The EIB has been a strong supporter of this effort, so the total value of EIB's support to the Turkish railway system has increased to EUR 5 billion over the past 2.5 years.

In addition, the project has been a strong supporter of key goals of EU policy and IV. It is the continuation of the Pan-European Corridor. Therefore, the European Union also provides a grant of 120 million EURO to the HSL project through Pre-Accession Instrument (IPA) funds. This project is an excellent example of the complementary use of EU grants and EIB loans in this priority investment in the country's sustainable transport infrastructure.

Source : http://www.eib.org

Armin

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