TCDD - Halkali Kapikule Line (EBRD-51582)

  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 10, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Republic of Turkey - Ministry of Treasury and Finance
The holder of the loan, grant, or other investment.
  • Construction
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 112.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 100,000,000.00
Converted using 2020-07-03 exchange rate.
Project Cost (USD)
$ 746.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 663,500,032.00
Converted using 2020-07-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 17, 2020

Disclosed by Bank Jul 3, 2020

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Project Description

According to the Bank's website, the project provides funding to the Republic of Turkey to fund the construction of 76 km section of a new high-speed railway line from Halkali station, Istanbul, to just before Cerkezkoy station.The project is the second phase of the new high-speed railway between Istanbul and Kapikule (the Halkali - Kapikule railway line).  Turkish State Railways (TCDD) will be the beneficiary of the loan and responsible for the project's implementation.

Investment Description

The Asian Infrastructure Investment Bank is providing parallel financing.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Turkish State Railways (TCDD) Client -

Contact Information

Ministry of Treasure and Finance
Contact Name: Izzet Yerdes (Ministry of Treasury and Finance General Directorate of Foreign Economic Relations)
Telephone: +90 312 204 73 62
Postal Address: Inönü Bulvari No:36 06510 Emek/Ankara

Turkish State Railways
Contact Name: Hasan Pezuk (Head Department of Railway Modernisation – General Directorate of Turkish State Railways)
Telephone: +90 312 520 0202
Postal Address: Haci Bayram Mahallesi, Hipodrom Caddesi, No:3, 06050, Altindag / Ankara


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