Turkey Seeks €350M From EIB For €3.8B Rail Tunnel

Law360, New York (February 11, 2014, 2:41 PM EST) -- The Republic of Turkey is seeking a €350 million ($478.6 million) investment from the European Investment Bank to help fund a €3.75 billion rail tunnel project under the Bosphorus connecting the European and Asian sides of Istanbul and linking the city’s commuter rail system, the development bank said Tuesday. 

Turkey is seeking financing from the EIB for its Bosphorus Tunnel Project, which will provide a rail connection underneath the strait and linking with existing commuter lines in Istanbul, a city of more than 13 million people,...
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