The Export-Import Bank of Korea said it provided 600 million euros ($661.6 million) in financial support for the construction of the world’s longest suspension bridge, which opened last week in Turkey.

The 2,023-meter Canakkale Bridge, built by a consortium of South Korea’s DL E&C and SK ecoplant, and Turkey’s Yapi Merkezi and Limak, connects Europe and Asia over the Dardanelle Strait.

The 3.13 billion-euro project to build and operate the bridge and an 88.4-kilometer highway began in April 2018, and ends in May 2034. The bridge is expected to improve the connectivity of the relatively underdeveloped northwestern part of Turkey, Eximbank said.

As the megaproject commemorates the 100th anniversary of the founding of the Republic of Turkey, there was intense competition among companies from Korea, China and Japan to win the bid in 2016 and 2017.

At the time, Eximbank expressed strong intent to offer financial support to SK ecoplant’s consortium, helping it gain selection as the preferred bidder.

The financing of large projects in Turkey is usually led by international organizations such as the European Bank for Reconstruction and Development or the International Finance Corporation. The Canakkale Bridge project, however, received the largest loan from Eximbank, without support from international organizations.

“We are delighted to have contributed to the historic opening of the Canakkale suspension bridge that marks the 100th anniversary of the Republic of Turkey. The bridge will further strengthen the partnership between Korea and Turkey,” said Eximbank Chief Executive Bang Moon-kyu.

By Kim So-hyun (sophie@heraldcorp.com)