Middle Corridor needs stronger infrastructure investment, says MCDF adviser

The Middle Corridor is gaining increasing importance as a trade route linking Asia and Europe, but requires substantial investment in infrastructure to realise its full potential, a senior development finance official has said.

Ayumi Konishi, Chief Adviser to the Executive Director of the Multilateral Cooperation Centre for Development Finance, made the remarks at a session titled “Financing the Middle Corridor for Sustainable Transport and Trade”, held during the Annual Meetings of the Islamic Development Bank in Baku, Caliber.Az reports via local media.

He said projects along the Middle Corridor could be supported through institutions including the Asian Infrastructure Investment Bank and other partner development finance bodies.

Konishi noted that MCDF, established in 2021, is funded by seven donor countries and works with 14 international financial institutions.

“The MCDF is a small multilateral initiative created in 2021, that is, five years ago. Its aim is to promote high-quality investments in connectivity infrastructure through partnerships,” he said.

He added that the centre had held 43 events over the past five and a half years, bringing together more than 8,500 participants from over 100 countries.