Rolande Pryce: WB in talks with Azerbaijan on potential investment in Middle Corridor – Exclusive

The World Bank (WB) is in talks with Azerbaijan on potential strategic investments related to the development of the Middle Corridor (Trans-Caspian International Transport Route, TITR), WB Regional Director for the South Caucasus Rolande Pryce told Report.

Earlier, Pryce said that the World Bank Group planned to make investment commitments totalling $1.2 billion by July 2027 to support the development of the TITR.

"The $1.2 billion refers to the World Bank's current pipeline of potential Middle Corridor-related investments for delivery by summer 2027. At present, projects formally under preparation are in Kazakhstan and Türkiye. We are also discussing potential strategic investments with a number of other countries along the corridor, including Azerbaijan. As these discussions advance, additional projects may be added to the pipeline in the coming months. There is therefore no specific allocation of the $1.2 billion to Azerbaijan at this stage. Any financing would depend on the development and formal preparation of specific projects agreed with the Government of Azerbaijan," she noted.

Commenting on the World Bank Group's potential involvement in the expansion of the Port of Baku, Pryce clarified that no specific financing agreement with the Group had been signed so far.

"At this stage, there is no concrete financing agreement with the World Bank Group. The Government of Azerbaijan is currently using its own budgetary resources to expand the capacity of the Port of Baku through infrastructure investments and operational improvements at the existing port. These measures are expected to increase container-handling capacity to around 260,000 TEU before 2030.

Looking further ahead, additional expansion is expected to be needed as traffic along the Trans-Caspian Transport Corridor grows. The Government is considering the timing, scope, phasing, and financing of this next stage, commonly referred to as the Phase 2 expansion. Financing from international financial institutions, including the World Bank Group, could be part of that next phase," the regional director said.

Commenting on potential financing for the TRIPP, also known as the Zangazur Corridor, Pryce said: "In Armenia, the WBG is helping to prioritize corridor investments with cross-border connectivity on rail and roads to strengthen the country's integration into regional transport networks under the Crossroads of Peace Initiative (CPI). The WBG is also supporting the Government in assessing business and operating models for the rail element of the proposed Trump Route for International Peace and Prosperity (TRIPP).

The railway sections of the Zangazur Corridor that are already under construction, such as the Kars-Nakhchivan connection in Türkiye, are not currently supported by WBG financing. The Nakhchivan railway section is being planned, with EBRD supporting its feasibility study, and the future financing structure for this line is yet to be determined."