Türkiye secures $2.8B in green financing for rail to Nakhchivan

Türkiye has secured some $2.8 billion in green financing for a railway project that aims to make a direct rail connection to Azerbaijan’s Nakhchivan exclave, Anadolu Agency (AA) reported on Tuesday.

Thanks to the efforts of the Treasury and Finance Ministry, 2.4 billion euros ($2.8 billion) of external financing has been obtained for the Kars-Iğdır-Aralık-Dilucu Railway Project, which will strengthen Türkiye’s regional railway connection, the report said.

Treasury and Finance Minister Mehmet Şimşek reposted the article by AA on his X account and said the financing will strengthen Türkiye’s infrastructure, competitiveness and efficiency.

Ankara signed the agreement with a group of lenders led by Japan’s MUFG Bank, the report said, adding the package is backed by Sweden’s EKN and Austria’s OeKB export credit agencies, as well as a unit of the Islamic Development Bank.

The project is part of Türkiye’s broader infrastructure strategy and is expected to enhance regional trade and connectivity while supporting green transition goals.

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