Baku:The European Investment Bank (EIB) has extended technical assistance for the safety assessment of the Baku-Boyuk Kasik railway line, a segment of the Middle Corridor. This announcement was made by Stella Renita, Head of the EIB Group Regional Representation for the South Caucasus, during a panel discussion at the Azerbaijan-European Union Business Forum.
According to Azeri-Press news agency, Stella Renita highlighted that besides offering loans, the EIB provides technical support for the projects it finances during both their preparation and implementation stages. She specifically mentioned the technical assistance supplied for the safety evaluation of the railway corridor in Azerbaijan.
The assessment aimed to explore opportunities to enhance safety along the 503-kilometer Baku-Boyuk Kasik railway line. This was part of a 10-month technical assistance project, which concluded in 2024. Renita noted that the assessment is anticipated to facilitate the development of a specific investment project in the future.
Furthermore, the EIB official underscored that technical assistance is a crucial element of the bank’s financing mechanisms, particularly in aiding the preparation and execution of projects.