Türkiye has secured €2.4 billion ($2.8 billion) in green financing for a railway project aimed at establishing a direct rail connection to Azerbaijan's Nakhchivan exclave.
Turkish Finance Minister Mehmet Simsek reposted the article by Anadolu agency on his X account and said that "the financing we've received from international institutions strengthens our national infrastructure, enhancing both competitiveness and operational efficiency."
Türkiye signed the agreement with a group of lenders led by Japan's MUFG Bank, Anadolu said, adding the package is backed by Sweden's EKN and Austria's OeKB export credit agencies, as well as an unit of Islamic Development Bank.
This railway line will boost Türkiye’s trade volume with China, Central Asia, Europe, and the Caspian region, revitalize the regional logistics sector, and create new business opportunities. Additionally, in line with green development goals, the use of electric systems in railway transport will help reduce fossil fuel consumption and lower carbon emissions.
The Kars-Iğdır-Aralık-Dilucu-Sadarak-Nakhchivan-Julfa railway will form part of the Middle Corridor, positioning the Nakhchivan Autonomous Republic (NAR) as a key regional transit hub.
Starting from the 12th kilometre of the Kars-Tbilisi railway line, the Kars-Iğdır-Aralık-Dilucu segment will involve the construction of a 224-kilometre railway, including five stations, five tunnels, ten bridges, and supporting infrastructure.
The railway offers great advantages in terms of increasing the carrying capacity and shortening the transportation time. In addition, transportation will be approximately half as fast as sea transportation. Once the railway is operational, travel from Kars to the Dilucu border checkpoint with Azerbaijan will take just 85 minutes.
The project comes after President Ilham Aliyev and President Recep Tayyip Erdogan signed the "Protocol of Intent on the Kars-Nakhchivan railway project between the Republic of Azerbaijan and the Republic of Türkiye" in 2023.
U.S. President Donald Trump said he sees progress between Israel and Lebanon after talks with Netanyahu, while Hezbollah has rejected a new ceasefire ...
Azerbaijan is once again at the centre of global climate diplomacy, hosting World Environment Day 2026 and bringing together international leaders, po...
Azerbaijan has strongly rejected allegations published by CNN claiming that its territory was used for Israeli military and intelligence operations ag...
The Eighth Global Environment Facility (GEF) Assembly has concluded in Samarkand, bringing together representatives from 186 countries to set environm...
Turkish President Recep Tayyip Erdoğan hosted Nigerien President Abdourahamane Tchiani in Ankara on Thursday, underscoring Türkiye’s growing engag...
Armenia’s military parade on 28 May 2026 carried significance beyond military affairs. It was not only a display of newly acquired hardware. It also raised important questions about the peace process taking shape in the South Caucasus.
Azerbaijan has strongly rejected allegations published by CNN claiming that its territory was used for Israeli military and intelligence operations against Iran, describing the report as entirely baseless and demanding a retraction.
Azerbaijan is once again at the centre of global climate diplomacy, hosting World Environment Day 2026 and bringing together international leaders, policymakers and organisations to address urgent environmental challenges.
Iran’s Revolutionary Guards (IRGC) said in a statement that its Aerospace Force did not strike the Kuwait Airport passenger terminal on Wednesday, and that the destruction was instead caused by a failed U.S. Patriot missile.
Five Azerbaijani citizens have been killed and three others injured following drone attacks on two cargo vessels in the Sea of Azov, Azerbaijan's Foreign Ministry said on Friday.
Israel and Lebanon have agreed to implement a ceasefire after U.S.-backed talks in Washington. The deal requires Hezbollah to halt attacks and withdraw from southern Lebanon, while both sides will resume direct talks later this month aimed at reaching a broader agreement.
As Armenia heads toward parliamentary elections on 7 June, the country's relationship with Azerbaijan is emerging as one of the defining issues of the campaign, with analysts and international observers highlighting the role of regional politics in shaping voters’ mindsets.
Armenia will hold parliamentary elections on 7 June 2026, a vote that will shape the country’s political direction for the next five years. Understanding how the electoral system converts votes into parliamentary power is key to following the outcome and its wider regional implications.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment