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Turkey has signed a financing agreement of 1.67 billion euros with the World Bank for the “Northern Istanbul Railway Crossing” (INRAIL) project, with the aim of strengthening intercontinental trade routes, reports Anadolu. The agreement was signed by the Turkish Minister of Treasury and Finance, Mehmet Simsek, and the head of operations at the World Bank, Anna Bjerde, during the spring meetings of the International Monetary Fund and the World Bank in Washington. Simsek said the deal is the third largest project ever approved by the World Bank, adding that the project as a whole is supported by $8.1 billion in financing, about 83 percent of which comes from international institutions. “This agreement provides funding, strengthens standards and sends a clear signal of confidence to global markets,” he said. The INRAIL project involves the construction of a 127-kilometer high-capacity electrified railway line that crosses the Bosphorus via the Yavuz Sultan Selim Bridge, bypassing the Istanbul metropolitan area. It is expected to significantly increase cargo and passenger transport capacity, reduce logistics costs, connect Istanbul’s airports to each other and to the national rail network, and improve key national and intercontinental transport corridors. Once operational, the annual rail freight capacity through the strait is expected to increase from 3 million to 50 million tons. Simsek said the INRAIL project will eliminate one of the most critical load points along the Middle Corridor, which is the fastest trade route connecting Beijing to London, with a transit time of just 18 days. “INRAIL is more than an ordinary rail link,” he said, adding that the project will create higher-income jobs for over 400,000 workers. Bjerde, for her part, said the agreement will strengthen Turkey’s connection with Europe, Asia and the Middle East, increasing regional and global trade. She added that the economic impact of the project will extend to the production, agriculture and service sectors. The development of Turkey’s transport infrastructure has attracted $355 billion in investment over the past two decades, including $180 billion in road projects as well as expanding the airport network. Railways are the next focus for expansion, with the World Bank playing a key role in these efforts.
2026-04-15 World

Turkey, agreement with the World Bank for the financing of the railway crossing project in Istanbul
2026-04-15 World

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