Pier Stankin, the Extraordinary and Plenipotentiary Ambassador of Germany to Azerbaijan, stated on 16 January that the Kars-Akhalkalaki-Tbilisi-Baku railway route will become a new corridor from Asia to Europe, Trend reports.
He stated that the project is important for all project member-states and TRACECA would never object to it.
The Ambassador explained EU's refusal to finance this railway route saying that with the expensive cost of the project, the organization is almost unable to cover.
He noted that Azerbaijan presented a loan to Georgia on privileged terms.
Stankin stressed that the success of the project is a matter for the future and did not exclude that the international organizations might finance it. Azerbaijan has confirmed its readiness to finance its $200mln share in the project and present funds to Georgia.
During the meeting on 13 October 2006 in Baku, the trilateral working group on the Kars-Akhalkalaki-Tablisi-Baku project considered the project on the framework agreement, obligations of the Georgian side on leading to the section of the construction of the railway and the credit agreement between Azerbaijan, Turkey and Georgia. The project is estimated at $422 mln, but taking into consideration the additional infrastructure, $600mln.