DEBT WATCH-

World Bank backs Turkey’s Middle Corridor route: Turkey has secured USD 660k in financing from the World Bank for a two-phase project to upgrade the Middle Corridor trade route, with co-financing contributions from the Asian Infrastructure Investment Bank and the Islamic Development Bank, Turkish outlet Anadolu Agency reports. The project’s first phase will modernize the Divrigi-Kars-Georgia border railway at an expected cost of USD 1.3 bn, whereas the second phase is projected to cost USD 5.5 mn.

About the route: The project involves rehabilitating the route of 660-km route — an international railway connection located in eastern Turkey, according to the country’s Official Gazette (pdf). The line links Turkey to Georgia and the Middle Corridor in the east, bridging Turkey’s eastern and western provinces. Overhauling the line will involve infrastructure works such as mainline and turnouts, bridges, terminals, stations, drainage, and protection structures.

TRUCKING-

Iraq has received three shipments from Turkey under the TIR system, originating from Istanbul and bound for the Gulf, according to a statement. The TIR system, managed by the International Road Transport Union — which Iraq recently joined — tracks shipments from their origin point until their destination. The move marks the opening of a new route from Turkey to the Gulf via Iraq. Another route is underway — originating in Romania, then heading to Iraq via Turkey — and will serve several destinations in the Gulf.

A push for transshipment primacy: A truck transport system involving Turkey, Iraq, Germany, Jordan, and Kuwait launched on Friday, coinciding with the Global Transportation Corridors Forum in Istanbul. The move embodied Ankara’s objective of positioning Turkey as a transshipment hub, and marked the first phase of Iraq’s Development Road Initiative.

AVIATION-

Saudia Cargo + China Cargo partner on air freight: Saudi Arabia’s air cargo carrier Saudia Cargo has inked a cooperation agreement with China Cargo Airline to enhance air freight networks and operations between the Middle East, Asia, and Europe, according to a statement published last week. The agreement aims to increase the number of flights between Riyadh and Shanghai, provide direct cargo transport from Riyadh to Budapest, and adopt integrated logistics solutions to improve the supply chain.

Saudi-Sino ties: Saudia Cargo launched a Hong Kong-based JV — Saudia Cargo Global — with the Chinese general sales service agent TAM Group last week. The Saudi airline also inked two MoUs in April: one with China Cargo Airline to develop specialized logistics services to boost bilateral trade between the countries in line with China’s Belt and Road Initiative, and another with China’s Henan Aviation Group to ramp up services between Riyadh and Zhengzhou via the Air Silk Road.

DIPLOMACY-

Morocco, Ukraine ink transport agreement: Moroccan and Ukrainian officials signed an agreement to bolster road transport links, Morocco World News reports. The bilateral agreement allows Ukrainian freight players direct access to Moroccan markets. In return, Moroccan transport companies can now send Europe-bound shipments through Ukraine.

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