The World Bank has approved a loan of EUR 1.7 billion (USD 2 billion) for the Istanbul North Rail Crossing project. To relieve congestion on the Bosphorus crossing, the project envisions the construction of a 127 km electrified rail freight transport line, bypassing the Istanbul metropolitan area and eliminating a bottleneck between Europe and Asia. According to the World Bank, the total cost is EUR 7.2 billion, with international financing commitments covering EUR 5.8 billion. In March 2026, the European Bank for Reconstruction and Development (EBRD) launched a EUR 500 million financing initiative. The project aims to increase rail freight capacity across the Bosphorus from the current 3 million t to 50 million t per year. The project also serves to connect to international corridors such as the Central Corridor and the Development Route via Iraq towards the Gulf region.