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Financial support for Marmaray Project from Europe
The Council of Europe Development Bank (CEB) will provide a credit of 217 million euro for the Marmaray Project.
Tuesday, 24 June 2008 15:31
According to the Turkish Undersecretariat of the Treasury, the credit agreement with the CEB has been signed on Tuesday.
Turkey will pay back the credit in 30 years, grace period being five years.
Marmaray (Marmara Rail) is the name of a project to link the European and Asian districts of Istanbul by a large rail link crossing the Bosphorus strait under the sea level.
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