Stefanie Stallmeister: World Bank and Azerbaijan coordinate details of Baku Port financing – EXCLUSIVE

The World Bank (WB) and the government of Azerbaijan are currently determining which stage of the Baku International Sea Port (BISP) expansion will be financed, Stefanie Stallmeister, the World Bank"s country manager for Azerbaijan, told Report.

"We are negotiating with AZCON Holding and JSC Azerbaijan Railways on the expansion of the Baku port, which is a priority for the government. At the moment, it is being determined which stage will be financed and how. I believe we are already at the stage of finalizing expenditure decisions. We are pleased to cooperate with the government, as this is an important project for the development and strengthening of the Middle Corridor," Stallmeister said.

It should be recalled that Azerbaijan is implementing the second phase of the Baku port construction, which includes the expansion of the dry cargo terminal and portside stations. Its current capacity is 150,000 TEU, and it is planned to increase this figure to 260,000 TEU within the next two years.

Earlier, in an interview with Report, World Bank South Caucasus Regional Director Rolandе Pryce said that negotiations were underway to support the further development of the Baku International Sea Port.