BAKU, Azerbaijan, September 22. The World Bank estimates that infrastructure investment in the Middle Corridor will require $28 billion over the next 15 years, World Bank (WB) Regional Director for the South Caucasus Rolande Pryce said at the 1st Azerbaijan International Investment Forum in Baku, Trend reports.
According to her, $25 billion will be needed for railways and $1.8 billion for the expansion and modernization of ports.
Pryce stressed that bottlenecks occur at points where different modes of transport “connect” - from sea to rail, from rail to motorways - and these problems need to be addressed.
“Another critical aspect is the many countries through which the corridor passes. It is very important to find harmonized approaches to digitalization, procedures, and regulation so that movement along the corridor is as seamless as possible,” she noted.