Turkey has received a loan of $1.4 billion for a tunnel across Bosphorus

Turkey has received a loan of US$ 1.4 billion to build an automobile tunnel on the Bosphorus bottom between the European and Asian parts of Istanbul.

On December 11, European Bank for Reconstruction and Development (EBRD) has signed a loan agreement for US$ 150 million with Turkey’s government. Earlier similar agreements were reached with the European Investment Bank, South Korean banks «Eximbank» and «K-Sure», Hong Kong bank «Standard Chartered» and Japanese banks «Sumitomo Mitsui» and «Mizuho».

Construction of 5,4 km long «Eurasian tunnel» is to be completed by 2017 according to МК-Тurkey.

English translation by BSN