350 Million Euros of External Financing Provided for Turkish Railways

Significant Financing for Turkey's Railway Projects

Turkish State Railways (TCDD) has secured 350 million Euros in financing from the African Development and Investment Bank (ADIB) for the TCDD Railway Maintenance Modernization Project.

This financing will be used to strengthen the railway network through the construction of new lines, modernization of existing lines, and the procurement of high-capacity new machines for control.

15 Billion Dollars in Foreign Financing in 2023

This year, Turkey has achieved a significant success by securing foreign financing exceeding 15 billion dollars for project financing.

Additionally, the amount of foreign financing directed towards transportation projects aimed at improving railway infrastructure has also surpassed 5 billion dollars.

Along with the TCDD loan, the amount of financing provided through the Ministry from ADIB this year has reached 800 million dollars.

Emphasis on International Cooperation

Minister of Treasury and Finance Mehmet Şimşek emphasized that strengthening transportation infrastructure supports trade, tourism, and regional development, stating:

"Improving railway infrastructure will enhance our competitiveness and reduce our carbon footprint. Additionally, it will facilitate our compliance with the EU Border Carbon Regulation. Our cooperation with international organizations continues, and the trust of international financial institutions in our projects is growing steadily."