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Turkey’s $200 Billion Wealth Fund to Finance Transport Projects

A man looks at his phone in Istanbul's tourist hub of Sultanahmet.

A man looks at his phone in Istanbul's tourist hub of Sultanahmet.

Photographer: Bulent Kilic/AFP via Getty Images

Turkey’s proposed national wealth fund, which could total as much as $200 billion, will finance projects including airports, seaports, roads and railroads across the country, according to a government minister.

The fund, approved by parliament last weekend, will be used to carry out projects that don’t have a build-operate-finance model, Transport, Maritime and Communication Minister Ahmet Arslan said on Tuesday. Some sub-funds will provide finance for those infrastructure projects, he said in an interview at the work-site for the third bridge connecting Asia and Europe across the Bosporus waterway that will open Friday.