ADB ready to support Middle Corridor development

The development of the Middle Corridor should help reduce border delays, lower the trade costs, and facilitate cross‑border payment transit, Jong Woo Kang, Director of Regional Cooperation and Integration at the Asian Development Bank (ADB), said during panel discussions at the Islamic Development Bank (IsDB) Group's 51st Annual Meetings in Baku, Report informs.

Woo Kang noted that stakeholders in the region must determine how much can be achieved through various infrastructure projects and soft connectivity measures: "Key performance indicators should be defined in advance, and each step of progress measured against pre‑established criteria. This way we can assess how far we have advanced, what remains to be done, and what kind of external financing is needed."

Recalling ADB's extensive experience in supporting the issuance of green bonds and sustainability bonds, the director said similar mechanisms could be applied to the Middle Corridor: "I look forward to closer cooperation with stakeholders across the region to support the Middle Corridor project."