Georgia, World Bank discuss development of Middle Corridor

Georgia Materials 7 March 2024 11:19 (UTC +04:00)
Georgia, World Bank discuss development of Middle Corridor
Ali Gasimov
Ali Gasimov
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BAKU, Azerbaijan, March 7. Georgia and the World Bank discussed the development of the Trans-Caspian International Transport Route (TITR, or Middle Corridor), Trend reports.

The discussion took place as part of a meeting between Georgian Minister of Economy Levan Davitashvili and the World Bank during a meeting with Antonella Bassani, the Vice President of the Europe and Central Asia Region at the Bank.

During the discussion, Georgia's efforts to build the Middle Corridor and improve its own transportation and logistics infrastructure were highlighted.

It was observed that Georgia is located on the shortest path between Europe and Asia, so it is critical that the country capitalize on its geopolitical prospects in multiple directions to become a regional hub.

Simultaneously, the summit focused on collaboration in renewable energy, information technology, communications, and other fields.

The parties also discussed the implementation of the Black Sea undersea electric cable project, which would provide a new channel for ecologically benign energy from the South Caucasus to Europe, as well as the Anaklia deep-sea port project.

In addition to this, Davitashvili introduced the World Bank delegation to the economic and structural reforms that the government intended to implement in the medium term in order to ensure higher and more sustainable economic growth.

In turn, the World Bank representatives praised economic development trends in the post-pandemic period and promised support for the country’s inclusive development and increased competitiveness.

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.