BAKU, Azerbaijan, November 20. The European Investment Bank is interested in doing new projects in Azerbaijan to support the transition to "green economy", European Investment Bank's chief advisor for credit operations in EU neighboring countries Hervé Guenassia told Trend.
"In addition to developing the renewable energy sector, we are also targeting the development of clean transportation sector in the country. We are having interesting discussions with Azerbaijan Railways on the development of environmentally friendly transportation and improvement of railway connections along the Middle Corridor," he noted.
Guenassia also stressed that the Bank sees great potential for improvement of urban transport in Baku, and has already started discussions with the Azerbaijani side on modernization and development of the Baku Metro.
The Middle Corridor connects the networks of container rail freight transportation of China and the European Union countries through the countries of Central Asia, the Caucasus, Türkiye and Eastern Europe.
Multilateral multimodal transportation infrastructure links ferry terminals of the Caspian and Black Seas with railway systems of China, Kazakhstan, Azerbaijan, Georgia, Türkiye, Ukraine and Poland. The Сorridor facilitates increased cargo traffic from China to Türkiye, as well as to European countries and in the opposite direction.
A route train along this corridor delivers cargo from China to Europe in an average of 20-25 days, and this is one of the main advantages of this transport corridor.