World Bank to invest $1.2 billion in the development of the Middle Corridor by the summer of 2027

The World Bank Group (WB) intends to undertake investment commitments totaling $1.2 billion by July 2027 as part of its support for the development of the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor.

This was stated by the World Bank Regional Director for the South Caucasus, Rolande Pryce.

She noted that, at present, the World Bank Group's total portfolio of active commitments for projects being implemented in the Middle Corridor area has reached $6.9 billion.

"These capital investments help attract an additional $9.35 billion in co-financing from international financial institutions and private investors, as well as $2.2 billion in co-financing from the participating countries' governments' own funds," R. Pryce emphasized.

As a reminder, according to the World Bank report "Integration: World-Class Trade Logistics Along the Trans-Caspian Transport Route," the TITR requires more than $25 billion in capital investments in physical infrastructure by 2040. The priority areas for investment are railway networks, seaports, and access infrastructure. In addition, about $30 billion needs to be allocated for "enabling" capital investments. These include connecting road and rail trunk lines that integrate the corridor into national economies, logistics hubs and inland terminals to increase the speed of freight transportation, as well as logistics equipment — rolling stock (locomotives and railcars), loading and unloading equipment, and digital platforms that ensure the uninterrupted functioning of the entire transport network.

Source: Report