BAKU, Azerbaijan, February 22. The European Bank for Reconstruction and Development (EBRD) has announced its commitment to invest up to 1.5 billion euros in the infrastructure development of the Trans-Caspian International Transport Route (TITR), Trend reports.
The bank anticipates that the current investment volume in the Middle Corridor will be implemented in the coming 2-3 years.
At the same time, the EBRD study on the TITR's potential estimates that, by 2040, the cargo throughput on the Middle Corridor is poised for a substantial surge from its current level of nearly 20,000 20-foot equivalent units (TEUs). As freight continues to rise along this route, there's a potential bottleneck looming in the existing Caspian Sea infrastructure.
The study also emphasized the need to revitalize and modernize rail and road networks, enhance rolling stock, streamline border crossing points, and establish multimodal logistics centers and supplementary network connections throughout Central Asia.
The Middle Corridor is a transportation and trade route that connects Asia and Europe, passing through several countries in the region. It is an alternative route to the traditional Northern Corridor and Southern Corridor.
The route begins in China and passes through Central Asian
countries including Kazakhstan, Uzbekistan, and Turkmenistan.
Before arriving in Europe, it flows across the Caspian Sea,
Azerbaijan, Georgia, and Türkiye.
The Middle Corridor provides a land route between eastern Asia,
particularly China, and Europe, skipping the lengthy sea
routes.