Istanbul mayor signs credit agreements for subway investments

The Istanbul Municipality signed Friday credit agreements for 1.571 billion euro with the European Investment Bank and international corporations to finance construction works aiming to extend subway system within the city.

Istanbul mayor signs credit agreements for subway investments
Speaking at the signing ceremony, Turkish State Minister in charge of economy Mehmet Simsek said that "if ground traffic in Istanbul moves more fluidly, this would bring Turkey's energy expenses down. Therefore, we pay high attention to infrastructure investments in mass transport."

Simsek also said that "the European Investment Bank has allocated 8.7 billion euro for EU candidate countries and 80 percent of the financing would be used by Turkey."


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Last Mod: 13 Haziran 2008, 17:27
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