Baku, Azerbaijan, Nov. 22
By Rufiz Hafizoglu – Trend:
The Islamic Development Bank (IDB) will provide a loan of 312 million euros to Turkey for the development of railway infrastructure, the Turkish Finance Ministry told Trend Nov. 22.
The loan will be allocated for a period of twenty years with a deferral of payment of the main debt within five years, said the ministry.
The IDB loan will be used to finance 106 projects to build a high-speed railway and purchase 10 high-speed trains, according to the ministry.
The length of high-speed railway lines will be brought up to 10,000 kilometers in the country until 2023.
Turkey’s first railway was built in Izmir Province in 1860. Its length was 357 kilometers.
---
Follow the author on Twitter: @rhafizoglu