Arkas secures port + fleet expansion loan: Turkish conglomerate Arkas Holding has clinched a USD 335 mn loan syndicated by the World Bank’s International Finance Corporation (IFC) to finance expansions in ports capacity and intermodal transport fleet, according to a press release published on Thursday. Arkas is set to receive USD 260 mn as a first tranche, with the remaining funds slated to be finalized in the coming months.

What else we know: The facility saw the participation of several international financial institutions, including Emirates NBD and the ILX Fund. A part of the proceeds will also be directed to re-finance short- and medium-term loans to clear the way for longer-term projects — as Arkas works on bolstering investments in Turkey’s transport and logistics infrastructure.

Why does this matter? The loan is pitched as one of the most significant international financings for a Turkish private sector player under the World Bank group’s strategy to boost East-West flows along the Middle Corridor.

Uh, the Middle Corridor? The Middle Corridor is a planned 7k km multimodal logistics corridor moving through Central Asia, the Caucasus, Turkey, and Europe, and potentially bypassing Russia and Iran. The route is expected to cut transit time for Asia-Europe flows, requiring between 10 and 15 days, the statement notes. The corridor’s vision is projected to lead to considerable growth in container volumes, hitting some 1.9 mn TEUs by 2040.

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