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ADB READY TO ALLOT $300M TO ROAD PROJECTS

Business Materials 30 July 2005 13:09 (UTC +04:00)

The Asian Development Bank (ADB) is ready to finance projects on road construction in Azerbaijan. The ADB prefers projects on the construction of the southern roads, but it is ready to finance the reconstruction and construction of any highway.

The ADB plans to allot funds not less granted by the International Bank of Reconstruction and Development (IBRD). The IBRD intends to finance the Alat-Astara motor highway at $300 million.

The total length of the Azerbaijani roads comprises 24,000 km with 6,000 km highway and 18,000 km local ones. The reconstruction and the construction of the highways in Azerbaijan demand more $2 billion.

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