AIIB Approves $1.5 Billion Financing for Istanbul North Rail Crossing Project
The Asian Infrastructure Investment Bank (AIIB) has approved a financing package of up to $1.5 billion for the Istanbul North Rail Crossing Project (INRAIL). The project is designed to enhance intercontinental rail transport between Europe and Asia across the Yavuz Sultan Selim Bridge (Third Bosphorus Bridge).
The INRAIL corridor will span approximately 127 kilometers of double-track, electrified railway connecting Çayırova on Istanbul’s Asian side to Çatalca on the European side. Key operational outcomes of the project include:
Travel Time Reduction: Freight transit times between Çayırova and Çatalca are projected to drop from 13 hours to approximately 3.6 hours. Public transit travel between Istanbul Airport and Sabiha Gökçen Airport will be reduced from 120 minutes to roughly 65 minutes.
Multilateral Co-financing: The $8.27 billion total project cost involves co-financing alongside international financial institutions, including the World Bank, Asian Development Bank, European Bank for Reconstruction and Development, Islamic Development Bank, and OPEC Fund.
Regional Logistics Integration: The route reinforces Istanbul’s position among major Mediterranean megaprojects, aligning with key trade infrastructure corridors connecting Europe and Asia.
News Sources:
