OECD Urges Alternatives to IMEC Rail Corridor Connecting Saudi Arabia and Israel
The OECD recommended developing alternatives to the IMEC land corridor between Saudi Arabia and Israel, warning that alternatives could hurt the project's economic viability and international financing.
The Organization for Economic Cooperation and Development (OECD) recommended developing alternatives to the IMEC land corridor project, known as the "Railways of Peace," which is planned to connect Saudi Arabia and Israel. In a special report, the organization calls for reducing security dependence on certain countries and designing a network that includes several different routes.
For Israel, promoting alternatives could undermine the economic viability of the project and the international financing it is expected to receive. The report highlights the project's advantages alongside the difficulties in advancing it, noting that the railway meant to connect Israel and Jordan has not yet been approved and is not progressing, likely due to political reasons.
Among the alternatives presented by the organization are reliance on additional sea ports in Egypt, Lebanon, and Syria, a land connection through Egypt, and the restoration of the Hejaz railway passing through Syria and Turkey. Earlier this week, reports indicated that the Ministry of Finance fears Israel might be left out of the railway due to its diplomatic standing, prompting the ministry to propose paying the OECD approximately 300,000 euros to fund a complementary study in which Israel would be involved in drafting the foundational questions.
