The European Union plans to mobilize up to €12 billion in public and private investment to develop the Middle Corridor, a major trade route designed to connect the South Caucasus and Central Asia directly with the European market.

European Commission President Ursula von der Leyen announced the initiative while delivering her State of the Union address to the European Parliament, according to novinite.com.

She described the Middle Corridor as a new international connectivity project designed to strengthen links between Europe and the countries of the South Caucasus and Central Asia.

The EU plans to use its Global Gateway initiative to attract up to €12 billion for the project.

“Our goal is to diversify routes, triple trade flows and significantly reduce cargo transit times by 2030,” von der Leyen said.

She also announced plans for a regional connectivity summit with Bulgarian Prime Minister Rumen Radev. Von der Leyen said that the summit will focus on turning the initiative into a practical project.

The Middle Corridor runs through Central Asia, the Caspian Sea and the South Caucasus, providing an alternative route for trade between Asia and Europe. The EU views its development as part of efforts to diversify trade links while strengthening economic ties with countries across Central Asia and the South Caucasus.

Von der Leyen also linked the initiative to broader changes in the international system, saying the EU needs to strengthen the resilience of its supply chains and safeguard its economic interests.