ArmInfo.The Eurasian Development Bank (EBDB) is in the process of preparing and launching the "Development of transport, logistics and road infrastructure in the direction of the Upper Lars checkpoint of the Republic of North Ossetia-Alania" investment project. As an ArmInfo correspondent reports, a corresponding memorandum of cooperation was signed with the Joint-Stock Company Northern Caucasus Resorts during the Eurasian Congress -23.
As part of the implementation of the memorandum, interaction will be carried out to develop options for the financial and economic model and structuring the investment project, as well as other measures to ensure the necessary funding. At the same time, the EDB Technical Assistance Fund intends to provide a grant for the development of a feasibility study for expanding the border crossing. The Upper Lars International Automobile Checkpoint and the transport and logistics infrastructure adjacent to it are important elements of the North-South road corridor, which is part of the Eurasian Transport Framework. This route is currently the only land route for Armenia that provides trade and economic ties with other EAEU member states. In addition, through the Upper Lars checkpoint passengers and cargo are transported between Belarus, Georgia, Russia and Turkey. The volume of such traffic has increased significantly over the past year.
The project amount is up to $200 million. Preliminary participation of the EDB is $150 million, which will be allocated from the EDB Technical Assistance Fund. A feasibility study is being developed for a project to create a modern logistics hub, which will increase the flow of goods along the nternational North- South Transport Corridor (INSTC). The implementation of the project will qualitatively improve the conditions for crossing the border for drivers engaged in international road transport, as well as for passengers through the creation of safe parking areas, ancillary service infrastructure, which, in turn, will have a significant positive impact on the time of crossing the border and on traffic safety on this important transport corridor, especially in winter, when weather conditions worsen and a significant amount of vehicles may accumulate at the entrances to the border crossing. The project involves the building of a secure parking lot for 350 cars, a hotel, a modular office building to accommodate organizations for the provision of customs services and services, a maintenance area for cars, gas stations, an area for charging electric vehicles, a tourist information center, shops, cafes, etc.
A multifunctional wholesale distribution center will also be built, which will provide storage of food products with a constantly maintained temperature regime, including freezers.
The investment project has a national and regional scale, the new transport and logistics infrastructure should become part of the state (regional) transport system and play a strategic role in the Eurasian transport framework, which ensures the connection of the "North - South" and "East"- West" transport corridors passing through the Caucasus region. The project will ensure the volume of trade, international transportation and transit, increase of new jobs in the region and increase of business income, expanding the range and improving the quality of the services provided. The Eurasian Transport Framework is a key investment mega-project financed by the EDB, consisting of a pool of projects aimed at developing international transport corridors in the Eurasian space to increase transit potential and increase export-import cargo traffic. Among the projects included in the framework in which the EDB has taken or is taking part are the Western High-Speed Diameter (WHSD) in St. ring road (BAKAD), "Nur Zholy"border crossing at the Kazakh-Chinese border, reconstruction of Almaty airport, construction of an airport in the city of Trkistan, establishment of the Ayagoz-Bakhty railway line in Kazakhstan. The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For 16 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank's operations are guided by the UN Sustainable Development Goals and ESG principles.
