EIB provides security support to Railway Corridor, important link of Middle Corridor

EIB provides security support to Railway Corridor, important link of Middle Corridor
# 13 February 2024 10:51 (UTC +04:00)

The EIB’s lending priorities for transport sector both inside and outside the EU are identified by EIB Transport Lending Policy, an EIB spokesperson told APA-Economics.

Based on this Policy, which is in line with the limits set by the EIB group’s Climate Bank Roadmap, the EIB prioritises supporting projects and activities transforming the unsustainable transport systems of today into sustainable transport systems of tomorrow.

EIB Global – the Bank’s development branch responsible for operations outside the European Union, is active also in Azerbaijan. EIB Global stands ready to consider financing of projects in line with the cooperation priorities between the European Union and Azerbaijan.

We are particularly focused on implementation of the EU Global Gateway Initiatives and Economic and Investment Plan for the Eastern Partnership which also covers connectivity. Therefore, when there are projects in the country that would benefit from our financing and meet EU policy goals and our various standards, we are open to consider financing of these. We don’t have any investment projects confirmed at this stage but besides financing, EIB Global provides advisory support and technical assistance for project preparation and implementation. Currently, we are providing advisory support for safety improvements at level-crossings along the Baku - Boyuk Kesik Railway Corridor – which is an important link in the “Middle Corridor”. This advisory support will assist Azerbaijan Railways in analysis, prioritization of interventions and the scoping of design studies. The EIB provides this support under the Facility for Eastern Partnership Investment in Connectivity (EPIC), funded by the European Union and managed by JASPERS, which offers Eastern partnership countries free advisory support and technical assistance to improve transport connections. More information on the EPIC Facility is available on our website.

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