BAKU, Azerbaijan, October 1. The World Bank
Group plans to commit $1.2 billion in investments for the
development of the Middle Corridor by July 2027, World Bank
Regional Director for the South Caucasus Rolande Pryce said at the
World Bank Group's online event titled “Middle Corridor: Next
Stage” on Thursday, Trend reports.
According to Pryce, the World Bank Group currently has $6.9
billion in commitments for projects under implementation along the
Middle Corridor.
“These investments help mobilize another $9.35 billion in
co-financing from international financial institutions and private
capital, as well as $2.2 billion in government counterpart
financing,” she said.
Pryce noted that the World Bank Group's support is based on the
belief that regional connectivity works best when it creates
opportunities for businesses, workers and local communities across
the region.
At the same time, she said the future of the Middle Corridor
will ultimately be determined by the countries through which it
passes and the companies that use it.
She added that a strong foundation is already in place for the
corridor's further development.
