The United Kingdom has agreed its biggest-ever civil infrastructure export finance deal to underwrite a high-speed rail line between the Turkish capital Ankara and a major port in the western province of Izmir, it announced on Thursday.
Britain hosted the United Nations Climate Change Conference, also known as COP26, last year and its trade ministry said the deal would help Turkey decarbonize its transport sector and meet commitments to reduce greenhouse gas emissions.
The landmark deal was announced at the U.K.-Turkey Green Finance Conference in London.
“U.K. government’s biggest-ever sustainable, civil infrastructure deal will help finance a new high-speed electric railway line in Turkey to decarbonize travel, with major contracts awarded to British and Turkish businesses,” the statement read.
U.K. Export Finance (UKEF) will guarantee a 2.1 billion-euro ($2.3 billion) loan to fund 503 kilometers (313 miles) of high-speed electric railway, the ministry said.
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