Japan Increases Marmaray Credit

Japan Increases Marmaray Loan: In order to meet the additional financing needs of the Marmaray Project-Railway Bosphorus Tube Crossing Section, the amount of financing provided by the Japan International Cooperation Agency with the loan agreement dated 2005 was increased.
According to the announcement on the website of the Undersecretariat of Treasury, as a result of the negotiations between the Undersecretariat of the Treasury and the Japan International Cooperation Agency in order to meet the additional financing needs of the Marmaray Project-Railway Bosphorus Tube Crossing Section, which is carried out by the Ministry of Transport, Maritime Affairs and Communications Directorate General of Infrastructure Investments. It was agreed to increase the amount of financing provided by the loan agreement dated February 18, 2005 from 140 billion 810 million Japanese Yen to 183 billion 789 million Japanese Yen.
The revision of the note and the credit agreement for the revision was signed today between the Turkish and Japanese parties.

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