World Bank Actively Working To Resolve Issues On Middle Corridor
Date
5/22/2024 8:06:49 PM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 22. World bank isactively working to identify and resolve issues on the MiddleCorridor, said Winnie Wang, the Lead Infrastructure Specialist andProgram Leader for Europe and Central Asia at the World Bank,during the 8th Trans-Caspian Forum hosted by the Caspian PolicyCenter (CPC) in Washington, D.C., Trend reports.
“We see great impacts when projects are designed to addressspecific bottlenecks and to define the level of service. To thisend, at the World Bank, we have employed a number of regional andglobal monitoring tools to give the corridor solutions.... Weestimated a cost of priority investments at about $7 billion inorder to address bottlenecks,” she continued.
“Corridors are multidimensional and beyond just the transportinfrastructure. They are about trade policies, trade financelogistics services, and support for the value-chain development, aswell as training and education,” Winnie Wang explained. Developingthis emerging corridor will require logistic and policycoordination, she added.
“One of the defining characteristics of the Middle Corridor isits multimodal nature. This hurdle can be turned into anopportunity to use all elements of the system and to decarbonizetransport,” Wang added.
The Middle Corridor is a transportation and trade route thatconnects Asia and Europe, passing through several countries in theregion. It is an alternative route to the traditional NorthernCorridor and Southern Corridor.
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