ANKARA
Türkiye secured funding of $660,000 from the World Bank for a two-component project for the Middle Corridor trade route, according to the country’s Official Gazette on Friday.
The project will be co-financed by the Asian Infrastructure Investment Bank (AIIB) and the Islamic Development Bank (IDB).
The first phase of the project, estimated to cost $1.3 billion, is to modernize the Divrigi-Kars-Georgia border railway.
The estimated budget for the second part, project management, is $5.5 million.
The process for World Bank-financed contracts will follow the bank's Procurement in Investment Project Financing (IPF) regulations and will be open to all eligible companies and individuals.
The World Bank and the AIIB will publish special procurement notices for international open tenders, while these will also be available on the Turkish General Directorate of Infrastructure Investments website or the country’s Official Gazette.