Photo: European Summit

BAKU, Azerbaijan, October 1. The EU counts on mobilizing new public and private investments in the Middle Corridor, European Commission Coordinator for Blended Finance and Investment, Alice Bighinzoli, said during a World Bank Group online event titled "Middle Corridor: Next Stage," Trend’s correspondent reports.

"We already have programs being implemented jointly with partner countries to identify the potential of local economies, banks, and financial institutions, as well as key areas and sectors that stand to benefit from trade development and facilitation.

We are looking beyond just the infrastructure aspect to include 'soft connectivity'—specifically, trade facilitation and the digitalization of the corridor. These are key elements we aim to support and further advance with the help of international financial institutions," she said.

According to Bighinzoli, it’s crucial for the partner countries to work together along the corridor.

"In this regard, we can facilitate coordination and help establish platforms for dialogue among partner countries," she said.

She also highlighted the EU's role as a catalyst for financing.

"We work closely with various international financial institutions, and we want our support to mobilize increasing amounts of public and private investment, given the immense needs along the corridor," Bighinzoli added.