World Bank's Support To Railway Restructuring In Turkey

WASHINGTON D.C. (AA) - The World Bank approved on Friday a Railway Restructuring Loan worth of 184.7 million USD, for Turkey.
The project's main objective is to improve the financial viability, productivity and effectiveness of railways in Turkey. The bank's investment lending support for the proposed government's railway restructuring program will be through a two-phased Adaptable Program Loan (APL).
The APL-1 with a total cost of 221 million USD of which 184.7 million USD are World Bank financed, will include advisory services to implement the restructuring of the Turkish State Railways (TCDD) under current Railway Law, initial staff adjustment program, line capacity increase along Mersin-Toprakkale and Yenice-Bogazkopru corridors, training for TCDD staff, and support for improved internal and public communication.
The APL-2 with a total cost of about 230 million USD of which at least 115 million USD is expected to World Bank financed, will include line capacity increase along Irmak-Zonguldak corridor, and other components as deemed necessary to ensure the success of the overall program.
Andrew Vorkink, country director for Turkey, said, ''World Bank is happy to help the Turkish government in improving productivity and effectiveness of railway operations and to assist TCDD in reaching a financially sustainable situation and reduce the fiscal burden.''
''The project will also serve to align the Turkish railways competitiveness with European railways, which is extremely important, at a period when EU accession negotiations are starting. The project will also contribute to improved rail safety in Turkey,'' Vorkink added.

2005-06-10