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IDB to finance Turkmenistan-Kazakhstan-Iran railroad project

TEHRAN (ISNA)-Islamic Development Bank (IDB) is to finance Kazakhstan-Turkmenistan-Iran railroad project.

Turkmenistan and the IDB signed a Memorandum of Understanding (MoU) according to which the IDB will pump money into the North-South transport corridor.

The 9000-kilometer railroad connects European and Asian transport network to create the shortest road from Europe to Persian Gulf ports. The project has been implemented since 2007.

Having signed the MoU, the IDB chief Ahmed Mohammed Ali highlighted Turkmenistan's huge transport potentials and said the organization is set to work with the country on energy section.

... Payvand News - 06/07/09 ... --

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