Thursday, June 8 2023 17:52

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  Trkistan, 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.