BAKU, Azerbaijan, Jan.19. The Middle Corridor has a huge impact on the economic development in the region itself, European Commissioner for Budget and Administration Johannes Hahn said speaking at the plenary meeting on “Eurasia’s Middle Corridor: From Pathway to Highway” held as part of the World Economic Forum in Davos.
“We are speaking about a corridor, not a tunnel. The corridor has a huge impact on the economic development in the region itself. Because from a European perspective, it is not only about guaranteeing supply chain, but also for having peace and stability in our neighborhood. Any kind of economic development is contributing to more stability,” he said.
Johannes Hahn pointed out that in such an initiative there are many participants and beneficiaries starting from China and ending in Europe.
“The more are involved, the more it contributes to stability, multilateralism. This is something very important from a strategic and political point of view. We have a toolbox of possibilities concerning the financing, we have our investment banks, guarantee schemes. Europe is very interested in this kind of development. We are committed and ready to engage,” the Commissioner added.