The European Bank for Reconstruction and Development (EBRD) has granted the Istanbul Metropolitan Municipality a loan increase of EUR 110 million to complete the M12 metro line, running from Ümraniye to Atasehir to Göztepe. The 13 km line M12 with 11 stations on the Asian side of Istanbul connects residential areas with business districts. Its opening is scheduled for December 2026. Construction began in August 2017 under a joint venture between Gülermak and Nurol, but stalled in January 2018 due to budget constraints. It later resumed with an EBRD loan of EUR 97.5 million and received an additional EUR 75 million in 2022. After a trial operation starting in March 2024, the project halted again after the municipality was unable to make payments to Gülermak. Work resumed in October 2025. With the current tranche, the EBRD contribution increases to EUR 282.5 million, with total estimated costs of EUR 410 million.