Russia has proposed two projects at an Organization of the Black Sea Economic Cooperation (BSEC) session held in Sochi on Wednesday.
The first proposal was the construction of a ring road around the Black Sea, the second concerned the comprehensive development of waterways in the Black Sea basin, Russian Transport Minister Igor Levitin said.
"Both proposals were approved. I hope that will have been ratified by the foreign ministers of BSEC's member states before the end of Russia's presidency of the organization," Levitin said.
The ring road project envisions the construction of a 7,000- kilometer long road joining Turkey, Georgia, Russia, Ukraine, Moldova, Romania and Bulgaria. Construction would be funded from national budgets, and by loans extended by the European Investment Bank, the EBRD and the Black Sea Bank.
The development of waterways in the Black Sea basin implies a simplification of cooperation between port administrations of BSEC member states. "The document provides for the development of Black Sea navigation," he said.
BSEC comprises Azerbaijan, Armenia, Albania, Bulgaria, Greece, Georgia, Moldova, Russia, Romania, Turkey and Ukraine. |
