TBILISI, Georgia, May 2. The feasibility assessment for the "green corridor" project, which comprises running a cable under the Black Sea from Azerbaijan to Europe, is planned to be finished in July 2024, World Bank Regional Director for the South Caucasus Rolande Pryce said, Trend reports.
Pryce said this during an "Enhancing Connectivity: European Connectivity (Renewable Energy and Digital Connectivity) Middle Corridor (Reshaping Euro-Asia Connectivity)" panel discussion at the 57th ADB Annual Meeting in Tbilisi.
"We're offering support as a multilateral development bank. We've got a handle on what the government needs, and we're pitching in with technical consultations, and financing to make sure these outcomes are reliable. The Technical Assistance Program will cover all the technical, economic, financial, institutional, and legal aspects. We're aiming to have the program ready to roll by July 2024. Right now, it's the hottest study on the block worldwide. There are countries still keen on jumping aboard this big, ambitious regional project. So, this has actually slightly pushed back the implementation timeline of this program, but we will certainly continue our work," she remarked.
Pryce mentioned that the World Bank is banking on the project being considered feasible.
"The Bank has already begun preparing the second initiative, the second project or program called 'Energy Enhancement.' The aim of this program is to assist in the development and implementation of the 'green' corridor project," she added.
The first meeting of the Board of Governors will be held on May 4. The opening will mark the official start of the annual meeting. This event is attended by distinguished guests from the host country. Statements will be made by ADB President Masatsugu Asakawa and the Minister of Finance of Georgia, Chairman of the ADB Board of Governors, Lasha Khutsishvili.
The annual meeting provides ADB governors with the opportunity to discuss development issues and challenges facing the Asia-Pacific region. Several thousand participants regularly attend the meeting, including finance ministers, central bank governors, high-ranking government officials, representatives of the private sector, international organizations, civil society organizations, youth, academia, and the media.