WB: Middle Corridor to be critical for linking eastern and western markets

The Middle Corridor will be of critical importance for connecting eastern and western markets, stated Valerie Levkov, Vice President for Infrastructure of the World Bank Group, at a seminar dedicated to the launch of the CMMFF held within the framework of the 59th Annual Meeting of the ADB Board of Governors held in Samarkand, Report informs.

According to Levkov, their strategy is based on three pillars. These are policy and regulation, foundational infrastructure, and mechanisms for large-scale attraction of private investments.

"If you want to attract the private sector, you need stability, predictability, and clear standards. We understand: unlocking the potential of foundational infrastructure requires large-scale investments in energy, transport, and water supply. For example, water scarcity in this region creates many issues that we need to address jointly. As for the third pillar – the mechanism for large-scale attraction of private investments – it should be noted that we will not solve these tasks solely through state budgets or the funds of the World Bank and ADB," Levkov stated.

The vice president emphasized that the Central Asian region is an ideal platform for their strategy, as large resources are concentrated here, and it is not just about mineral resources.

"Uzbekistan has copper, uranium, and rare earth metals. However, we need to implement a regional approach. Transport corridors, for example, the Middle Corridor, will be of critical importance for connecting eastern and western markets. Processing and manufacturing capacities are also important. Asian countries have the base for the development of midstream and downstream stages. However, this requires market support mechanisms, trade potential, and coordination of activities," Levkov added.