The Islamic development Bank (IDB) is ready to explore the possibility of supporting the implementation of the Trans -Caspian pipeline, the regional Director of the IDB Regional hub in Turkey, Saleh Elassi said in an interview with Trend and Azernews.
"The IDB is ready to consider possible support for the Trans-Caspian pipeline project if Azerbaijan and other interested parties decide to address us as a potential partner," – said the Director of the regional hub of the IDB.
According to Elassi, the Trans-Caspian pipeline project can also contribute to growth and development in two key regions of the Caucasus and Central Asia.
In addition, the Director of the regional hub of the IDB noted that the support of infrastructure projects and the creation of partnerships are the foundations of the ten – year strategy of the IDB.
"We believe that the Trans-Caspian pipeline project will play a very important role in strengthening cooperation between the two main member countries of the Islamic development Bank – Azerbaijan and Turkmenistan," – Elassi said.
In 2011, the European Union adopted a mandate to negotiate a legally binding Treaty between the EU, Azerbaijan and Turkmenistan on the construction of the Trans-Caspian pipeline system. The EU first proposed an agreement in support of an infrastructure project.
The agreement on the Trans-Caspian pipeline will lay the Foundation for the construction of an underwater pipeline connecting Turkmenistan with Azerbaijan and, in turn, will link this pipeline with the infrastructure that will deliver gas from Central Asia to the EU.