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By News Centre

Türkiye secured €1.67 billion in concessional financing from the World Bank within the scope of the Istanbul Northern Railway Crossing Project. According to information obtained from the Ministry of Treasury and Finance, Türkiye’s efforts to obtain concessional external financing are ongoing. In this context, financing for the Istanbul Northern Railway Crossing Project was approved by the Executive Directors Board of the World Bank. The project, which will receive €1.67 billion in concessional financing from the World Bank, will be carried out by the Ministry of Transport and Infrastructure.

The said loan will be used for the construction of the Gebze–Sabiha Gökçen Airport–Yavuz Sultan Selim Bridge–Istanbul Airport–Halkalı Railway Line. With the project, which will provide an alternative railway connection for the Istanbul Bosphorus, Türkiye’s competitiveness in national and intercontinental transportation corridors will be increased, and Istanbul’s role as a global transfer hub will be strengthened. In addition to the loan to be provided by the World Bank, resources will also be obtained from other international financial institutions. At the final stage, the total amount of concessional external financing to be secured for the project will reach approximately $6.75 billion.

Minister of Treasury and Finance Mehmet Şimşek stated that with this loan, the amount of concessional external financing obtained in 2026 reached approximately €3 billion. Şimşek said, “Within the framework of our Medium-Term Program, with our economic program prioritizing sustainable growth and social welfare, our support for public investments in the transportation sector will continue strongly.” Emphasizing that cooperation established with the World Bank will continue with determination and that within the scope of the Country Partnership Framework (CPF) covering the 2024–2028 period, an additional $18 billion in resources is targeted in addition to the existing $17 billion portfolio, Şimşek noted that total financing is expected to reach $35 billion.

The new resource provided for Istanbul’s mega project also confirmed Türkiye’s increasing credibility in the eyes of global capital. Speaking at a reception held at the London Embassy residence to celebrate the 20th anniversary of the Presidential Investment and Finance Office, Minister of Treasury and Finance Mehmet Şimşek said that Türkiye has made significant progress in terms of international direct investments. Şimşek stated, “In my opinion, Türkiye is once again becoming a center of attraction for global talent and capital. We are going through a difficult global conjuncture; the war in the Middle East is like a dark cloud. However, when viewed from a broader perspective, it is clearly seen that Türkiye is not only an island of stability, but also a strong production base and a dynamic services hub.”

President of the Presidential Investment and Finance Office Ahmet Burak Dağlıoğlu also stated that comprehensive reforms have been implemented in Türkiye since 2003, saying, “As a matter of fact, the total foreign direct investment coming to Türkiye has reached $290 billion. The number of international companies in the country has increased from nearly 5,000 to over 87,000. This is an extremely important achievement for us.”