World Bank engages with Azerbaijan on priority project for regional trade

The World Bank and the Azerbaijani government are currently determining which stage of the expansion of the Baku International Sea Port (BISP) will receive financing, Stefanie Stallmeister, World Bank Country Manager for Azerbaijan, told domestic media.

“We are in talks with AZCON Holding and Azerbaijan Railways CJSC about the expansion of the Baku port, which is a priority for the government. We are currently determining which stage will be financed and how. I believe that we are already talking about the final decision on expenses. We are happy to cooperate with the government, as this is an important project for the development and strengthening of the Middle Corridor,” Stallmeister said.

The second phase of construction at the Baku port is currently underway, including the expansion of the dry cargo berth and port stations. The port’s throughput capacity presently stands at 150,000 TEU, with plans to increase it to 260,000 TEU within the next two years.

Earlier, Rolande Priye, the World Bank’s regional director for the South Caucasus, also told the media that negotiations are ongoing to support the further development of the Baku International Sea Port, highlighting the strategic significance of the project for regional trade and transport.

By Tamilla Hasanova