2024-07-09 00:15:56
The Asian Infrastructure Investment Bank (AIIB) is ready to support various initiatives for the development of the Trans-Caspian International Transport Route (TCITR).
As reported by Day.Az, Vice President and Corporate Secretary of AIIB Ludger Schuknecht told Trend about this.
“The Middle Corridor is indeed a key project for the region. In principle, we are ready to participate in various initiatives to develop this route. As for Azerbaijan specifically, we are at an early stage of cooperation in this area, but in general, we are ready to provide support. There are other countries in the region where discussions have advanced further, and some projects are already being implemented. However, I am confident that the region will develop positively thanks to the Middle Corridor,” he said.
According to him, the AIIB can support various high-quality projects related to railways, seaports, energy infrastructure and energy transmission. “A well-functioning route requires reliable energy transmission and road infrastructure,” Schuknecht said.
The AIIB Vice President noted that the key requirement is that these projects comply with the bank’s international standards, which serve as a mark of approval and a guarantee of quality.
“We are therefore able to support all initiatives, but I refrain from making assumptions because ultimately it is up to the Azerbaijani government and private sector clients to decide how they want to engage with us. We are ready to engage in discussions and take action, always taking into account the needs and preferences of our clients,” added Ludger Schuknecht.
The Middle Corridor is a transport and trade route that connects Asia and Europe and passes through several countries in the region. It is an alternative route to the traditional Northern and Southern Corridors.
The route starts in China and passes through Central Asian countries such as Kazakhstan, Uzbekistan and Turkmenistan. It then passes through the Caspian Sea, Azerbaijan, Georgia and Turkey before reaching Europe.