Turkmenistan: Islamic Development Bank Finances Cross-Border Railway

A 256-kilometer stretch of the Iran-Turkmenistan-Kazakhstan railway will be funded by the Islamic Development Bank, says Iran's ambassador to Turkmenistan, Mohammad Reza Forqani.

The Atrek-Bereket rail link is estimated to cost $600 million, news site Iran.ru quoted Forqani as saying on July 8.

The Chairman of the IDB, Ahmad Muhammad Ali, and the Turkmen Minister for Railways, Deryaguly Muhammetguliev, have signed a memorandum of understanding on the project, and the IDB is keen to see construction completed quickly, Forqani added.