Baku, Azerbaijan, Sept.30
By Maksim Tsurkov - Trend:
The Asian Development Bank plans to allocate $350 million on the development of transport infrastructure in Azerbaijan over 3 years, stated the bank's new strategy of cooperation with Azerbaijan for 2014 - 2018, approved by the ADB Board Sept.30.
"These loans are provided for 2015-2017. The bank intends to apply a systematic approach to the development of transport infrastructure network that will promote the development of non-oil sector. Particular attention will be paid to the East-West corridors (within the CAREC 2 program) and North-South, which are priority ones for the government. It is expected that financial assistance of ADB will contribute to a more rapid completion of the construction work on these corridors," said the strategy.
Expansion of opportunities for the rural population of Azerbaijan is an important aspect of ADB's support and it will have a positive impact on economic diversification. The involvement of rural roads in the North-South transportation network will make it possible to increase the access of rural population to markets, educational and medical institutions.
By 2020, the turnover of goods in Azerbaijan will increase by 25 percent compared with 2010 (this year it amounted to 11,325 million metric tons / kilometers), passenger traffic - 20 percent (it amounted to 16,633 million passengers / kilometers in 2010), and fatalities will be reduced by 25 percent for every 100,000 people (from 10.3 percent in 2010 to 7.7 percent in 2020), according to the expectations of the bank. The number of passenger buses running in the city center will be reduced from 700 units in 2014 to 400 units in 2018, while maintaining the quality of service.
ADB's support of railways will be considered within the framework of the technical assistance.
As part of the strategy, the bank plans to allocate $752 million for infrastructure projects in the areas of transport, energy, water supply and other urban utilities and services, while some 46.5 percent will be allocated to finance the road projects.
ADB was established in 1966 and has 67 members. The bank's headquarters is located in the capital of the Philippines, Manila. Azerbaijan joined ADB on December 22, 1999.
The country's share in the bank's capital is 0.5 percent. ADB's leading shareholders are Japan and the United States (31.2 percent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent).
ADB has provided Azerbaijan a total of about $1.64 billion for the implementation of 20 projects for the entire period of cooperation, according to the data for the end of 2013.