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EBRD identifies projects to enhance Middle Corridor efficiency

12 June 2024 15:21 (UTC+04:00)
EBRD identifies projects to enhance Middle Corridor efficiency
Nazrin Abdul
Nazrin Abdul
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Yekaterina Miroshnik, Director of Eurasian Infrastructure at the EBRD, discussed the bank's initiatives aimed at enhancing the efficiency of the Middle Corridor during the 2nd Caspian Region Connectivity Conference in London, Azernews reports, citing the Caspian Policy Centre.

In her address, she highlighted 30 potential investment projects identified in the EBRD's latest study in Central Asia, estimating infrastructure investment needs at €18.5 billion across the region's five countries.

Miroshnik emphasised that realising these projects hinges on measures like tariff adjustments, market liberalisation, and private sector involvement.

Sophie Ibbotson, Development Advisor at the World Bank, underscored the importance of collaborative efforts for Middle Corridor development, stating, "The Middle Corridor's true appeal lies in its potential to enhance both intra-regional and inter-regional relations."

Addressing challenges hindering regional development, Ibbotson pointed out that high transportation costs impede production growth in Central Asia, limiting economic expansion.

She added, "Reducing transportation costs could make countries like Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan more attractive to investors and international buyers seeking marketable products."

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