Turkey, Islamic Development Bank Sign Two Deals Worth $567 Million

Turkey’s Deputy Prime Minister Mehmet Simsek signed two 20-year agreements with the Islamic Development Bank (IDB) on Wednesday in a bid to finance Turkey’s large-scale transportation and energy projects.

The agreements worth around a total $567 million, the Turkish Treasury said in a statement. A 312 million euro deal was for the production of ten high-speed trains as part of a 106-train project conducted by the Turkish state railway company (TCDD), the ministry said. The second part of deal contains energy projects.