GLOBAL: The Islamic Corporation for the Development of the Private Sector (ICD) has committed EUR40 million (US$43.45 million) to co-finance the Nakkas-Basaksehir section of the Northern Marmara Highway Project in Turkiye, to enhance Istanbul’s east-west connectivity, improve road safety and reduce traffic congestion.
Ronesans Holding leads the consortium overseeing the project, in partnership with Samsung C&T Corporation and other Korean investors. The ICD’s contribution is part of a larger EUR1.04 billion (US$1.12 billion) senior debt package, fully financed by international financiers.
