The European Union will allocate €200 million for connectivity projects in the South Caucasus as part of the Global Gateway Investment Program, European Commission President Ursula von der Leyen said during a joint statement with Azerbaijani President Ilham Aliyev in Baku, EDnews reports.
According to her, the EU wants to advance peace through connectivity:
"We have the Global Gateway Investment Program, and through this Global Gateway Investment Program, we will invest up to €200 million in grants for transport, energy, and digital links across the South Caucasus. This has the potential to mobilize up to €2 billion in public and private investment.
Projects could include the rail connection through Nakhchivan, the developing of the Port of Baku, for example.
The South Caucasus is one of the world's great crossroads connecting Europe, the Caspian, and Central Asia. Its strategic importance continues to grow, and Azerbaijan has a central role to play.
Few countries are as well placed as yours to drive regional cooperation and stability. Azerbaijan tactfully combines its strategic geography, its growing economic, political, and regional influence.
And that is why we are proposing to launch an EU-Azerbaijan Connectivity Partnership. This goes hand in hand with the High-Level Connectivity Dialogue, a dialogue that covers transport, energy and digital connectivity," she added.
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