Turkmenistan Secures ADB Loan for Rail Project

The Asian Development Bank has approved a $125 million loan to finance a regional rail link project in Turkmenistan. This is the first loan ADB is providing for a railway project in the Central Asian country.

ADB’s loan will finance Turkmenistan’s North-South Railway Project, which includes construction of signaling, power and telecommunication systems on 311 kilometers of the 934 kilometer-long planned North-South Railway Corridor expanding across Central Asia.

The project is also being financed by the Turkmenistan government and the Islamic Development Bank. It is expected to be incorporated under the transcontinental transport corridor being developed through the Central Asia Regional Economic Cooperation Program and supported by ADB.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.