BAKU, Azerbaijan, December 24. The European Investment Bank (EIB) is currently providing technical assistance to Azerbaijan in a project, supporting the development of the Trans-Caspian International Transport Route (TITR), an EIB spokesperson told Trend.
In particular, according to the source, EIB Global, the bank's branch responsible for operations outside the EU, is currently providing advisory support for safety improvements at level-crossings along the Baku - Boyuk Kesik Railway Corridor – which is an important link in the Middle Corridor.
"This advisory support will assist Azerbaijan Railways in the analysis, prioritization of interventions, and the scoping of design studies. The EIB provides this support under the Facility for Eastern Partnership Investment in Connectivity (EPIC) which offers Eastern partnership countries free advisory support and technical assistance to improve transport connections," the source explained.
The spokesperson noted that EIB Global stands ready to consider financing projects, both in the public and private sector that are in line with the cooperation priorities between the EU and Azerbaijan.
Meanwhile, the EIB has been collaborating with Azerbaijan since 2014. Operating within the guidelines of the European Neighbourhood Policy (ENP), the Eastern Partnership (EaP), and other bilateral agreements within the EU, the bank has invested over 96 million euros in the country. In partnership with a local bank, the EIB has granted funding totaling 25 million euros to support over 120 enterprises.