INRAIL Istanbul North Rail Crossing Project

passed concept review, pending final review

A sovereign loan of up to EUR 500 million to the Republic of Türkiye. The Project will be implemented through the General Directorate of Infrastructure Investments ("AYGM"). The loan proceeds will be utilised to finance the construction of 127 km greenfield railway line that will serve as a bypass of the Istanbul Metropolitan Area and provide a high-capacity overland crossing across the Bosphorus (the "Project"). The proposed railway line will start at the Cayirova station on the Asian side and end at the Catalca station on the European side, crossing the Bosphorus Strait using the existing track space allocated for this purpose on the Yavuz Sultan Selim Bridge, also known as the Third Bridge, at the Bosphorus' northern end. The line will be double-tracked, electrified, fully signalized, and mixed-used, designed to carry passengers and freight. The Project provides an integral missing link for the three international rail-served trade corridors crossing Istanbul: (i) the Trans-Caspian Middle Corridor linking China and Central Asia with the rest of Europe via rail and short-sea shipping connections; (ii) the Iraq Development Road corridor, which would link Asia and the European Union ("EU") via the Middle East and Türkiye by rail; and (iii) the Türkiye-EU corridor, which accounts for a third of Türkiye's international trade. The Project aims to: (a) enhance the resilience, efficiency, and competitiveness of Türkiye's national logistics network; (b) significantly boost rail freight capacity and increase rail modal share; (c) set the enabling conditions to attract private sector investment and to foster innovation in logistics services; and (d) increase the accessibility of Istanbul Airport (IST) on the European side and Sabiha Gokcen Airport (SAW) on the Asian side by linking them to the rail network. The Project will be co-financed by the World Bank, Asian Infrastructure Investment Bank, Islamic Development Bank, Asian Development Bank and OPEC Fund for International Development.