Turkey is to receive EUR 312 million (USD 334 million) to fund 10 high-speed passenger trains to run between capital Ankara and Istanbul, the Islamic Development Bank (IDB) said.
The extra rolling stock is part of a modernisation scheme to halve journey times from seven to three-and-a-half hours. The new trains will be able to reach speeds of 300 kilometers per hour, Anadolu agency reports.
“The project aims to shift the significant amount of the passenger traffic between Ankara and Istanbul from road transport to more efficient rail transport, hence meeting the transport demand of 13.9 million passengers annually by 2025 from the current 5.6 million,” the bank said in a statement.
The IDB followed the announcement by saying it would also provide financial backing to Turkey’s plan to develop its high-speed rail network to other major cities, increasing the rail industry’s share of passengers.
The bank previously supported the Ankara to Konya high-speed line.
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