BAKU, Azerbaijan, June 19. The European Investment Bank (EIB) is providing technical assistance for Azerbaijan's transport sector, Maciej Czura, Head of the EIB Regional Representation for the South Caucasus, told Trend.
"In addition to financing, EIB Global provides advisory support and technical assistance for project preparation and implementation. Currently, we are providing advisory support for safety enhancements at level-crossings along the Baku-Boyuk Kesik Railway Corridor, an important Trans-European Transport Network (TEN-T) link in the Middle Corridor," he said.
According to Czura, this support is helping Azerbaijan Railways in analyzing and prioritizing interventions and in scoping the related design studies.
"The EIB provides this support under the Facility for Eastern Partnership Investment in Connectivity (EPIC). Funded by the European Union and managed by our advisory program of Joint Assistance to Support Projects in European Regions (JASPERS), EPIC offers Eastern partnership countries free advisory support and technical assistance to improve transport connections," the official explained.
Meanwhile, the EIB is the EU bank and one of the biggest multilateral financial institutions in the world. EIB Group's new financing signed in 2023 reached 88 billion euros, whereas 49 billion euros was allocated to green financing (climate action and environmental sustainability financing). EIB Global, the EIB’s development branch responsible for operations outside the EU, signed in 2023 8.4 billion euros in new financing.