Xiaohong Yang, Managing Director of the Asian Infrastructure Investment Bank (AIIB), stated that approximately $28 billion in investment is needed over the next three years to fully operationalize the Middle Corridor.
According to Oxu.Az, she made the remarks during the session “Financing the Middle Corridor for Sustainable Transport and Trade” held within the Islamic Development Bank’s Annual Meetings in Baku.
Yang noted that although transit time has been reduced from 30 to 18 days, it remains high. She emphasized that the main priorities are implementing financeable infrastructure projects and increasing operational efficiency.
According to her, reliability and predictability are crucial for the route to be attractive to investors and cargo carriers. The AIIB official stressed that for the Middle Corridor to operate efficiently, roads, railways, ports, ships, airports, operating systems, and digital platforms must work in unison.
She also praised the modernization efforts in Azerbaijan’s transport and logistics sector.
