BAKU, Azerbaijan, December 3. The Middle Corridor is a very important concept with numerous potential projects under it, said Alkis Vryenios Drakinos, Regional Head of the Caucasus for the European Bank for Reconstruction and Development (EBRD), in an interview with Trend.
Underscoring the bank’s active engagement in projects related to the Middle Corridor, a vital trade route connecting Central Asia, Europe, and beyond, Drakinos emphasized the EBRD’s commitment to ensuring all financed projects align with the Paris Agreement.
"Whatever we finance in this sector will always include a green element," Drakinos noted. "We do not finance projects that are not compatible with the Paris Agreement’s conditionalities. Therefore, every project we support is aligned with the Agreement, and we incorporate relevant conditions to ensure compliance".
Drakinos highlighted several ongoing and potential projects under the Middle Corridor framework. In Azerbaijan, the EBRD has been actively financing the Azerbaijan Caspian Shipping Company (ASCO) to acquire vessels and cargo ships, aiming to facilitate trade along the route. "This is helping meet the demand for transporting goods between Central Asia, Europe, and beyond, both ways," he explained.
In Georgia, the EBRD is working on projects to enhance the efficiency of the transport sector, including support for the railway system and the development of the Port Community System, a digitalization initiative to streamline port operations. "This project will link the ports of Georgia, making the transfer and trading of goods between countries smoother and faster. It is also part of the Middle Corridor concept," said Drakinos.
The EBRD has also expressed interest in supporting the expansion of the Port of Baku in Azerbaijan. "We conveyed our interest to the Azerbaijani authorities regarding the expansion of the capacity of the Port of Baku, which is part of the Middle Corridor. We expressed our willingness to look into this when they are ready," Drakinos stated.