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Azerbaijan upgrades 89 km of roads under WB project

Business Materials 10 February 2017 19:09 (UTC +04:00)

Baku, Azerbaijan, Feb. 10

By Azad Hasanli – Trend:

Azerbaijan has reconstructed 89 kilometers of roads as part of the Third Highway Project, jointly implemented by the Azerbaijani government and the World Bank, according to a WB report.

The report says that as of now, 66 kilometers of the Baku-Shamakhi road out of the planned 94 kilometers have already been upgraded.

Meanwhile, 23 kilometers of the Yenikend-Shorsulu road out of the planned 48 kilometers have already been reconstructed.

“The progress towards achievement of the project development objective remains on track and project objectives achievable within the remaining period until the closing date of December 31, 2019,” according to the WB report.

Disbursements under the project have reached $174.2 million, which amounts to about 72 percent of the original project funds and 46 percent of the total project funds after approval of additional financing.

These funds are mainly meant for the modernization and expansion of the Baku-Shamakhi and Yenikend-Shorshulu roads.

The Third Highway Project was approved in 2010. The project’s cost is $356.15 million, $241.6 million of which account for WB funds.

In March 2016, the bank allocated additional funds in the amount of $140 million for the project, and additional $15.5 million was allocated by the Azerbaijani government.

Azerbaijan joined the World Bank Group in 1992.

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