Islamic Development Bank Extends $668 Million in Loans, SPA Says - High Speed Railway Ankara Konya Included

www.bloomberg.com - The Islamic Development Bank, a Saudi Arabia-based multilateral lender, approved $668 million in loans to finance projects in 12 countries, the Saudi Press Agency reported, citing the bank.

The loans include $229 million for a 304-kilometer (189- mile) high-speed rail line linking Turkey’s capital Ankara with Konya and $228 million for a sewerage network west of the Iranian capital Tehran, the news service said. (source)

FINANCE - Islamic Development Bank to finance Turkish locomotive project

TCDD signed a contract with South Korean railway systems provider Hyundai Rotem to buy 80 electric locomotives and a simulator for $312.7 million.

Turkey's state railway company TCDD signed on Monday a contract with South Korean railway systems provider Hyundai Rotem to buy 80 electric locomotives and a simulator for $312.7 million.

TCDD Director-General Suleyman Karaman told a signing ceremony that $220 million of the financing for the project would be provided by the Islamic Development Bank (IDB).