Turkish Treasury Secures €200M Loan For Rail Project

Law360, Los Angeles (June 10, 2013, 8:13 PM EDT) -- The Republic of Turkey Prime Ministry Undersecretariat of the Treasury said Monday it has secured a €200 million ($270 million) loan from the European Investment Bank for additional financing of a high-speed train project between Ankara and Istanbul.

The project, implemented by Turkish State Railways, is an attempt to upgrade the country’s main transport corridor between Ankara and Istanbul. The finance agreement for the new funding, which brings EIB’s support for the high-speed railway line to more than $2 billion, was signed Monday in Ankara in...
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