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IDB Approves Financing of North-South Transport Corridor

Islamic Development Bank (IDB) has approved the issue of financing the North-South Transportation Corridor.

It is worth noting that the North-South Corridor (the Russian Federation-Azerbaijan-Iran) is considered as an alternative route to TARCECA transportation corridor (Europe-the Caucasus-Asia).

The IDB Board of Directors has allocated USD 371m for construction and rehabilitation of a 257-km railroad as part of the project. The railroad is part of the 936-km railroad of Kazakhstan-Turkmenistan-Iran of the North-South Transportation Corridor.