The World Bank has approved €1.67 billion in financing for a major railway project linking Europe and Asia across the Bosphorus via the Yavuz Sultan Selim Bridge, Turkish authorities said.
The project envisages a new rail line running from Gebze to Halkalı, passing through Sabiha Gökçen Airport, the Yavuz Sultan Selim Bridge, and Istanbul Airport, creating an alternative rail corridor between the two continents.
Opened in 2016, the Yavuz Sultan Selim Bridge — Istanbul’s third bridge over the Bosphorus — was designed as a hybrid structure capable of carrying both road traffic and high-speed trains.
Istanbul currently has two other suspension bridges spanning the strait: the 15 July Martyrs Bridge, completed in 1973, and the Fatih Sultan Mehmet Bridge, completed in 1988.
Authorities say the new rail link is expected to boost Türkiye’s competitiveness in regional and transcontinental transport corridors and strengthen Istanbul’s role as a global transit hub.
In addition to the World Bank financing, further funding is expected from international institutions, with total external financing projected to reach about $6.75 billion.
Treasury and Finance Minister Mehmet Şimşek said the agreement brings Türkiye’s total external financing secured in 2026 to around €3 billion.
“Sustainable growth and social welfare remain at the core of our economic programme. We will continue to support public investments in the transport sector within our medium-term framework,” he said.
He added that under the 2024–2028 country partnership framework with the World Bank, Türkiye aims to secure an additional $18 billion in financing on top of the existing $17 billion portfolio.