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World Bank allocates $350M loan for Turkey’s rail connectivity, logistics

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The World Bank is loaning 314.5 million euro ($350 million)to Turkey to improve its rail connectivity and logistics, the bank said in a statement last week.

The Turkey Rail Logistics Improvement Project aims to save costs in selected rail freight corridors, and improve institutional capacity at the Transport and Infrastructure Ministry with the aim of achieving rail freight connectivity and manage rail-enabled logistics centres.

This will help revitalise the transport and logistics sector, and enable cargo owners to maintain robust supply chains in the project’s target corridors in the aftermath of the COVID-19 pandemic.