Baku: The European Union will allocate grants of up to 200 million euros to support the development of transport, energy, and digital connectivity in the South Caucasus, President of the European Commission Ursula von der Leyen announced during a press statement with President of Azerbaijan Ilham Aliyev.

According to Azeri-Press News Agency, the President of the European Commission highlighted the significance of the EU's Global Gateway Investment Program in this initiative. The program aims to mobilize up to 2 billion euros in investments from both public and private sectors, with potential projects including the establishment of a railway connection through Nakhchivan and the development of the Port of Baku.