BAKU, Azerbaijan, February 21. The European Bank for Reconstruction and Development (EBRD) will spend significantly in the development of infrastructure linked with the Trans-Caspian International Transport Route (TITR, or Middle Corridor), Huseyin Ozhan, EBRD Head of Kazakhstan, told Trend.
"The EBRD declared its willingness to invest around 1.5 billion euros in Trans-Caspian Corridor-related infrastructure and associated transportation solutions over the next 2-3 years in January 2024, at the Investors Forum for EU-Central Asia Transport Connectivity in Brussels. The Ministry of Transport of the Republic of Kazakhstan and the EBRD decided during the Brussels Forum to collaborate on strategic road, rail, port, and logistics infrastructure initiatives to develop the TITR. According to a memorandum of understanding signed by EBRD Vice-President Mark Bowman and Kazakhstan Minister of Transport Marat Karabayev, the parties will work to facilitate the increase in freight traffic between Central Asia and Europe through Kazakhstan by implementing necessary reforms and securing the financing needed for sustainable multimodal transport infrastructure," he said.
According to Huseyin Ozhan, priority projects will include the modernization of container handling equipment and the development of a container terminal at the Aktau Port, double tracking and the electrification of the national railway network, the development of the Shalkar-Beyneu road and the rehabilitation of road sections along or adjacent to the TITR such as relevant sections of Aktobe-Kyzylorda.
"The Bank is also exploring a number of PPP initiatives and sustainable infrastructure projects in Uzbekistan and the Kyrgyz Republic related to the TITR," he noted.
Meanwhile, 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.