Turkey Seeks Gulf Cash for $20 Billion Bet on Transit Trade

Turkish President Recep Tayyip Erdogan will seek financing from the United Arab Emirates and Qatar to build as much as $23.5 billion in transport links connecting Asia to Europe via his country during a visit to the Gulf this week.

The projects he’ll discuss include a rail and road network from Iraq’s Faw port on the Persian Gulf to the Turkish border in the north and a railway across Istanbul’s Bosphorus Strait bridging the two continents, Transportation and Infrastructure Minister Abdulkadir Uraloglu told Bloomberg in Ankara on Tuesday.