Middle Corridor Infrastructure Development Requires $28 Billion Investment

The development of the "Middle Corridor" infrastructure requires $28 billion in investment over the next 15 years, World Bank Director for the South Caucasus Roland Price said at the "1st Azerbaijan International Investment Forum" held in Baku.

"Of this amount, $25 billion is needed for railway infrastructure, and $1.8 billion for the expansion and modernization of ports. It is in these places that bottlenecks arise - at the crossroads of various modes of transport: from sea to rail, from rail to road," Azerbaijani media quoted Price as saying.

The regional director noted that these are issues that need to be resolved.

“I think another important challenge is that we now have to navigate through many different countries. So it’s crucial to find harmonized approaches to digitalization, procedures, and regulation to make it as seamless as possible for corridor users to move from one country to another. We are very actively involved in developing and strengthening the corridor,” Price said.

The World Bank regional director notes that development banks simply don’t have enough funds to fully meet the current demands. That’s why their plan is to expand partnerships and attract private capital.

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