Turkey, Iran, Pakistan rail link to China's Belt and Road

The governments of Turkey, Iran and Pakistan will revive a transnational rail service linking Istanbul, Tehran and Islamabad (ITI), one of the projects in China's Belt and Road Initiative (BRI).

This project was launched in 2009 under the umbrella of the Economic Cooperation Organization (ECO), a 10-member political and economic intergovernmental organization founded in 1985 by Iran, Pakistan and Turkey.

China asked for additional guarantees from Pakistan and refused to give the complete concessional loan Islamabad.

That raises the question of how Pakistan will fund its railway network. Pakistan is expected to look for funding outside the BRI framework since China has no interest to offer financial support. China will lend political support to the ITI railroad because it complements the BRI. However, it still expects Iran, Pakistan and Turkey to bear costs and share risks if they wish to benefit from the trade and investment dividends a successful ITI railroad is expected to yield.

Source: Nikkei Asia #Dec29

https://asia.nikkei.com/Spotlight/Belt-and-Road/Turkey-Iran-Pakistan-rail-link-to-China-s-Belt-and-Road?fbclid=IwAR3uYQSSG30opttB_YiTZfu3klyQFgiovRrNuRGHfVHbUcBNRBWiiFRApAg

#BRI #Pakistan #China #ITI #ECO #Turkey