The European Union will allocate up to 200 million euros in grants for the development of transport, energy, and digital connections in the South Caucasus, said Ursula von der Leyen, President of the European Commission, in a press statement with Azerbaijani President Ilham Aliyev, as reported by Azerbaijani media.
“We have the ‘Global Network’ investment program, and under this program, we will allocate up to 200 million euros in grants for the development of transport, energy, and digital connections in the South Caucasus. This could create the potential to attract investments of up to 2 billion euros from both the public and private sectors. Projects could include, for example, the establishment of railway communication through Nakhchivan and the development of the port in Baku,” said von der Leyen.
