EBRD, USAID sign memorandum on development of Middle Corridor through Georgia

The European Bank for Reconstruction and Development and the United States Agency for International Development have signed a memorandum to develop the Trans-Caspian International Transport Route that connects Central Asia and Europe while passing through Georgia.

The EBRD on Thursday said the partnership would benefit the route - also known as the Middle Corridor - by expanding trade, green energy, investment in new industries, as well as transport and digital infrastructure in Armenia, Azerbaijan and Georgia.

Strengthening the Middle Corridor will create new, transformative economic opportunities across the region and provide an alternative transport route to existing commercial corridors”, the Bank said.

The memorandum seeks to enhance planning, design and construction of critical energy, transport, digital and agricultural infrastructure in the region, the EBRD said.

It also aims to improve the efficiency of customs, tariff and border operations, attract private capital investment into the South Caucasus economies for the development of the Corridor and adopt the “highest international standards” to promote economic connectivity with Europe and among South Caucasus countries.