Azerbaijan plays a critical role in securing investment and operational efficiency for the Middle Corridor, Xiaohong Yang, Director General of Public Sector Clients Department at the Asian Infrastructure Investment Bank (AIIB), said during a panel discussion at the Islamic Development Bank (IsDB) Group's 51st Annual Meetings in Baku, Report informs.
Yang noted that $28 billion will be required over the next three years to develop the Middle Corridor: "Infrastructure remains priority number one. We need roads, railways, ships, sea and air ports, operational systems, and support platforms. The Middle Corridor is multimodal, so everything must work together."
She emphasized that Azerbaijan and other countries have already begun modernizing transport infrastructure. "The most important factor for attracting investors and shippers is reliability and predictability. Previously, transport took a month; now it's about 18 days, but that is still too long," he added.
The official also stressed that beyond infrastructure, institutions and operational efficiency are critically important.