The World Bank is discussing potential Middle Corridor investments with Azerbaijan, but the country’s share of the institution’s $1.2 billion project portfolio has not been determined and no financing agreement has been signed, regional director Rolande Pryce said.
Pryce, the World Bank’s regional director for the South Caucasus, said talks on potential strategic investments are underway with several countries along the route, including Azerbaijan.
$1.2 Billion Covers the Entire Corridor
The $1.2 billion portfolio covers possible World Bank investments in Middle Corridor projects planned for preparation by summer 2027. Projects in Kazakhstan and Türkiye are currently in formal preparation.
No separate amount has been earmarked for Azerbaijan. Any financing will depend on the development of specific projects and agreement with the Azerbaijani government.
Baku Port Expansion Funded by State Budget
There is also no agreement for World Bank participation in the expansion of the Port of Baku. Current infrastructure work and operational improvements are being financed from Azerbaijan’s state budget.
The measures are expected to increase the port’s container capacity to about 260,000 twenty-foot equivalent units, or TEUs, by 2030. International financial institutions could participate in a later expansion phase as freight traffic grows.
The World Bank is also not financing the Kars-Nakhchivan railway section under construction. The Nakhchivan rail line remains in the planning stage, while the European Bank for Reconstruction and Development is supporting preparation of its feasibility study. The future financing structure has not been determined.
The World Bank estimates that Middle Corridor countries will need at least $25 billion for physical infrastructure and about $30 billion for access roads, logistics hubs, rolling stock and digital systems through 2040. Those estimates apply to the entire route, not Azerbaijan alone.
Source: Vesti Baku.