The financing package comprises a $US 450m seven-year loan from a consortium of lenders from Europe, Africa, the Middle East, and North America, and a $US 415m 13-year loan backed by Sweden's EKN and EKF and Swiss Export Risk Insurance.

Construction began on the $US 1.7bn project in 2012 and the line is being built by Yapi Merkezi, Turkey. Bombardier announced earlier this month that it has been awarded a contract to supply ETCS Level 1 for the railway, which is due to be commissioned next year.