THE European Bank for Reconstruction and Development (EBRD) is providing a €110m loan extension to Istanbul Metropolitan Municipality to fund completion of the long-delayed Ümraniye - Ataşehir - Göztepe metro line.
The new 13km line will serve 11 stations in the Asian side of Istanbul. EBRD says that it will connect major residential districts, business centres including the rapidly developing Istanbul Financial Centre, and a key healthcare institution.
The project is expected to significantly improve public transport provision by offering a fast, low-carbon alternative to the private car, relieving congestion and improving the quality of life for residents. The project also supports Istanbul’s Green City Action Plan, which the municipality adopted in February 2025 with technical and financial support from EBRD.
According to local media, construction of the Ümraniye - Ataşehir - Göztepe line began in August 2017, with a joint venture of Gulermak and Nurol acting as main contractor. Due to budget constraints, work came to halt in January 2018. Construction later resumed, backed by a €97.5m EBRD loan, with the bank providing an additional €75m in 2022.
The project reached the testing phase in March 2024 with initial trial operations. Work came to halt once again later that year, after the municipality was unable to make payments to Gulermak. Construction resumed in October 2025 and the new line is due to open in December.
With the latest €110m in loan funding, the total EBRD contribution to the project has reached €282.5m out of a total estimated cost of €410m.
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