World Bank finances Bosporus rail project

On March 31, the World Bank approved a loan of USD 2 billion for the Istanbul North Rail Crossing Project (INRAIL). The infrastructure project aims to eliminate a key bottleneck in rail transportation between Asia and Europe and strengthen Turkey's role as a logistics hub. The core of the project is the expansion of rail connections across the Bosphorus, which has been a bottleneck in the so-called Middle Corridor to date. This route connects China with Europe via Central Asia, the Caspian Sea and the South Caucasus. The Baku-Tbilisi-Kars railroad in particular plays a key role as a gateway to Turkey. INRAIL comprises the construction of an electrified, high-performance line around 127 kilometers long and a new crossing of the Bosporus. Among other things, the Yavuz Sultan Selim Bridge is to be used to efficiently route freight traffic around the center of Istanbul. The planned capacity expansions are considerable: the annual volume of goods transported across the Bosphorus could increase from around 3 million tons at present to up to 50 million tons. This would eliminate a major bottleneck along the trade route between China and Europe. The World Bank considers the project to be of strategic importance for the entire region. In addition to greater efficiency in transportation, it is also expected to generate economic impetus - for example through new jobs, investments and greater integration of international supply chains. In the long term, the project should not only strengthen rail freight transport, but also contribute to shifting transportation from road to rail. This will further increase Turkey's importance as a central interface between Europe, Asia and the Middle East. The post World Bank finances Bosporus rail project appeared first on ostwirtschaft.de.