The EU plans to raise up to €12 billion for the development of the Middle Corridor, connecting the South Caucasus and Central Asia

The European Union (EU) plans to attract up to €12 billion in public and private investment for the development of the Middle Corridor, which is intended to directly connect the South Caucasus and Central Asia with the European market, European Commission President Ursula von der Leyen said during her State of the European Union address to the European Parliament.

“This will be a new international connectivity project. It will directly link the South Caucasus and Central Asia to the European market. We call it the Middle Corridor,” Ursula von der Leyen said.

According to her, the EU will use its Global Gateway initiative to attract public and private investment for the project.

“Our goal is to diversify routes, triple trade flows, and significantly reduce cargo transit times by 2030,” the EU leader emphasized.

Ursula von der Leyen also announced that a regional summit dedicated to connectivity will be held jointly with Bulgarian Prime Minister Rumen Radev. According to her, the summit will aim to turn the project into a practical reality.