ASTANA, Kazakhstan, September 26. Kazakhstan is interested in the participation of the Asian Infrastructure Investment Bank (AIIB) in increasing the capacity of the Trans-Caspian International Transport Route (Middle Corridor), said Minister of National Economy and Governor of the AIIB from Kazakhstan, Alibek Kuantyrov, Trend reports.
"During the period of cooperation, renewable energy sources (RES) projects were implemented. In particular, the bank financed the construction of a 100 MW wind power plant in the Zhambyl region. The AIIB also provided assistance in the fight against the pandemic," he said at the 8th annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank in Sharm el-Sheikh (Egypt).
In addition, the minister noted the possibility of promising cooperation in the fields of achieving carbon neutrality and infrastructure development.
"The Republic of Kazakhstan is interested in implementing projects in various sectors of the economy. I would like to draw attention to the huge potential in the fields of energy, green economy, transport, logistics, and agriculture," he said.
Kuantyrov noted that another promising area of cooperation is the use of the capacity of the Middle Corridor.
"Considering that our country is landlocked and interest in this route is growing, the participation of the AIIB would be useful for increasing cargo transportation and strengthening the logistics infrastructure along the East-West route," he added.
On the sidelines of the Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, Alibek Kuantyrov met with the President of the AIIB, Jin Liqun. The parties discussed the prospects for bilateral cooperation.
AIIB was created in 2016. Its main goal is to promote economic development and improve infrastructure in Asia. The priority areas of financing are energy, transport, logistics, urban and rural infrastructure, etc.
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 starts in China and crosses Central Asian countries such as Kazakhstan, Uzbekistan, and Turkmenistan. It then passes through the Caspian Sea, Azerbaijan, Georgia, and Türkiye before reaching Europe. The Middle Corridor offers a land route that connects the eastern parts of Asia, including China, with Europe, bypassing the longer maritime routes.