BAKU, Azerbaijan, September 16. Middle Corridor's development is a very important topic not only for the European Bank for Reconstruction and Development (EBRD), but also other international financial institutions (IFIs), Elisabetta Falcetti, EBRD Managing Director for Türkiye and the Caucasus said in an exclusive interview with Trend.
"I think there is a very strong collaboration with other IFIs in the region. Promoting regional integration and connectivity is one of our main objectives and is part also of our strategy. We have been involved in a number of studies where we assessed the potential for Azerbaijan, but also for the countries on along the corridor to benefit from this greater integration. I understand that there are a number of steps that need to be taken also to facilitate a stronger integration, facilitating border crossing and transport. We stand ready to invest and to support," said the managing director.
Falcetti recalled that this year in February the EBRD financed Azerbaijan Caspian Shipping Closed Joint-Stock Company (ASCO) with a 38.7 million euros worth loan.
"This is an example of what EBRD can be doing in order to support these transport corridors. We supported the company buying two new vessels. One is already bought with our first tranche and the second is waiting disbursement. We accompanied this with work on the climate corporate governance at the ASCO level and also on improving their governance. I think it's an example of a very good project that EBRD did to support the corridor. Of course, we will look at the project-by-project basis when opportunities arise. So, we are definitely interested, and this is one of our priorities," she added.
The Middle Corridor connects container rail freight networks between China and the European Union via Central Asia, the Caucasus, Türkiye, and Eastern Europe.
This multimodal transportation infrastructure links ferry terminals on the Caspian and Black Seas with railway systems in China, Kazakhstan, Azerbaijan, Georgia, Türkiye, Ukraine, and Poland.
The Middle Corridor boosts cargo traffic between China and Türkiye, as well as between European countries, and vice versa. A train along this corridor can deliver cargo from China to Europe in an average of 20–25 days, a key advantage of this transport route.
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