Azernews.Az

By Nigar Abbasova

The Islamic Development Bank has shown interest in transport corridors passing through the territory of Azerbaijan.

IDB Regional Director for the CIS Hisham Marouf said that the financial institution is interested in participation in regional projects implemented by Azerbaijan Railways.

Marouf, talking to Chairman of Azerbaijan Railways Javid Gurbanov in Baku, said that the development of cooperation with Azerbaijan is a priority area for the Bank.

Gurbanov, in turn, spoke about reforms pursued in the railway sector of the country, as well as implementation of international and regional projects and challenges ahead.

He said that one of the main objectives of the country in mid-term perspective is turning of the country into regional logistics hub.

Besides, he also gave an insight into measures taken to implement globally important North-South project.

The North-South transportation corridor is meant to connect Northern Europe to South-East Asia and has a strategic importance for the region. It will serve as a link connecting the railways of Azerbaijan, Iran and Russia.

Azerbaijan became an IDB member in 1992. Main spheres of IDB interest in Azerbaijan is energy, irrigation, road building and agriculture.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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