Türkiye and the World Bank have signed a new partnership to strengthen Türkiye’s connectivity with Europe, Asia and the Middle East, supporting hundreds of thousands of jobs, including the creation of 100,000 more worldwide.
The project includes a 127-km electrified rail line crossing the Bosphorus via the Yavuz Sultan Selim Bridge. Officials estimate it will cut logistics costs and increase annual rail freight capacity across the strait from 3 million tonnes to 50 million tonnes.
The agreement was signed by Anna Bjerde, the World Bank’s Managing Director for Operations, and Turkish Finance Minister Mehmet Şimşek. Şimşek said the project is aimed at eliminating a key "bottleneck" in the so-called Middle Corridor, linking Europe with Asia by land, including through the Caucasus region. It will route trade through tunnels, reducing exposure to extreme heat, flooding, strong winds and wildfires, the World Bank said.
Happy to have signed this landmark agreement alongside @bjerde_anna and the @WorldBank team.
INRAIL is more than an ordinary railway connection.
📍 Bridging the Bosphorus: Unlocking one of the Middle Corridor’s most critical bottlenecks.
📈 Rail capacity: 3M → 50M tons/year… https://t.co/HEdjH5o3cN — Mehmet Simsek (@memetsimsek) April 15, 2026
The total cost of the project is valued at $8.1 billion, Şimşek said, with 83% financed by international financial institutions. INRAIL is the third-largest project in the history of the World Bank.
Türkiye said the project will increase capacity on the Middle Corridor railways from 3 million to 50 million tonnes per year.
The investment will create approximately 414,000 higher-paying jobs and 99,000 new jobs, according to projections.
The Middle Corridor is a transport and trade route passing through a number of countries in the region and connecting Asia with Europe. It serves as an alternative to the traditional Northern and Southern Corridors and bypasses longer sea routes, which can slow trade.
Şimşek added that the signing of the agreement reflects mutual trust in Türkiye’s development and partnership, and he expressed gratitude to the technical teams of all parties for their work.
"This project is a strategic and transformational investment for Türkiye," said Humberto Lopez, World Bank Country Director for Türkiye. "By removing a critical rail bottleneck at the Istanbul Strait and enhancing the resilience and efficiency of rail infrastructure, Türkiye is boosting its competitiveness and reinforcing its role as a logistic hub."
At least four people died in Russian strikes on the Ukrainian port of Mykolaiv, officials said, as attacks were reported across Ukraine overnight. ...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, ...
U.S. President Donald Trump has pledged to send every American adult a $5,000 payment if the Republicans keep control of the House of Represen...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the strikes a response to a U.S. attack on five Iranian tankers.
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Azerbaijan's education system is showing some of its strongest signs of progress in years, with the latest Programme for International Student Assessment (PISA) results revealing significant improvements in mathematics, science and reading.
At least 14 people were killed and 11 others injured after a powerful explosion ripped through a temporary weapons storage facility near the northern Syrian city of Sarmada in Idlib province on Wednesday, according to Syrian authorities.
Kazakhstan is stepping up investment in the Middle Corridor as rising freight volumes and demand for more diverse trade links drive the rapid expansion of the route connecting Asia and Europe.
Georgia’s International Maritime Forum has closed in Batumi with officials setting out investment targets, timelines and technical plans aimed at expanding the Middle Corridor and strengthening the country’s role in global trade.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment