TRACECA Investment Forum 2012 – attraction of investments to transport infrastructure
The improvement of transport infrastructure is of key importance for TRACECA member states most of which are landlocked countries. Transport networks of many TRACECA countries became obsolete and demand substantial upgrading and financial resources.
In this connection TRACECA encourages and promotes the participation of private sector in financing and management of transport projects. Public private partnership in the development of transport infrastructure became a widely-spread practice in TRACECA countries.
In his interview to the EU Neighbourhood Info Centre (ENPI) Mr. E. Biriucov, Secretary General of TRACECA noted that the TRACECA Investment Forum opened up wide opportunities for the development of a dialogue between TRACECA and international financial markets, as well as transport operators. The Investment Forum is one of the most important initiatives aimed at strengthening of our corridor potential to ensure efficient transport links between Europe, the Caucasus and Asia.
Preparations for the Second TRACECA Investment Forum were carried out for more than a year. TRACECA countries with the assistance of the European Commission projects’ consultants undertook preliminary studies. Every project submitted to the Forum underwent special procedures of selection and evaluation. Projects prioritization was done on the basis of a number of criteria including a criterion of regional significance, i.e. potential prospects of the projects for the development of intraregional and interregional transport communication. On the selection process outcomes among 39 projects proposed by the countries 12 priority projects were presented at the Forum.
It should be noted that the First TRACECA Investment Forum held in October 2010, in Brussels was attended by more than 200 representatives of financial circles from 25 countries of the world. TRACECA countries presented 20 investment projects to the amount of more than 5 billion Euro. TRACECA projects aroused considerable interest among the participants which is proved by the fact that three projects to the amount of more than 600 million Euro, presented at the Forum found the sources of financing: the project for Zestaphoni-Kutaisi-Samtredia road extension to be financed by JIKA in the size of 295 million USD, two others - to be financed by the national governments – the project for Tbilisi-Rustavi road extension in the size of 66 million Euro and Gerede-Merzifon road upgrading in the size of 300 million Euro.
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Permanent Secretaritat of the IGC TRACECA