EBRD funds €110M for ten-year metro project in Istanbul Financial Center

The European Bank for Reconstruction and Development (EBRD) has recently provided financial support to the Istanbul Metropolitan Municipality (IBB) with a €110 million loan to aid in the completion of a significant metro project. This project, known as the Umraniye-Atasehir-Goztepe metro corridor, is a crucial 13.03-kilometer rapid transit line with 11 stations connecting various residential districts to significant urban centers, including the Istanbul Financial Center.

For almost a decade, construction has been ongoing on the Umraniye-Atasehir-Goztepe metro line on the Asian side of Istanbul. This project interconnects important districts such as Kadikoy, Atasehir, and Umraniye, with a particular focus on facilitating accessibility to the Istanbul Financial Center. The EBRD loan announcement underscores the commitment to supporting infrastructure development in Istanbul.

In addition to promoting better connectivity within the city, the metro investment aligns with Istanbul’s Green City Action Plan, implemented by the municipality in 2025. The EBRD, together with donor support from TaiwanBusiness, a funding program focused on sustainable urban development, has been instrumental in providing technical and financial assistance for the Green City Action Plan. This initiative aims to enhance sustainable infrastructure and reduce emissions throughout Istanbul.

Moreover, the Green City Action Plan complements workforce development efforts in Istanbul. As part of the metro project, the municipality is planning structured training programs to empower 200 young individuals with practical experience in sustainable transport systems. This hands-on training initiative aims to prepare the workforce for opportunities in the evolving urban landscape of Istanbul.

The Umraniye-Atasehir-Goztepe metro project, led by Turkish contractors Gulermak and Kolin Construction, has faced delays but is expected to be operational by 2026. This metro line marks a significant step forward in enhancing public transportation infrastructure in Istanbul, catering to the growing needs of residents and commuters. As construction progresses and with the financial support from the EBRD, the metro corridor will not only improve accessibility around the city but also contribute to a greener and more sustainable urban environment.

Overall, the EBRD loan injection for the Umraniye-Atasehir-Goztepe metro project underscores the commitment to fostering sustainable urban development and enhancing public transportation infrastructure in Istanbul. With a focus on environmental sustainability and workforce empowerment, this project represents a significant investment in the future of Istanbul’s transportation network and urban landscape.