ADB to submit final report on development of transport infrastructure in Baku
Baku, Azerbaijan, Sept. 5
By Zulfiyya Kurbanova - Trend:
Preparation of the final report of the Asian Development Bank (ADB) within the framework of the creation of the investment program for the development of urban transport in Baku is expected in December this year, noted a group of consultants led by ADB expert on urban planning David Morgenstern with representatives of the Ministry of Transport of Azerbaijan headed by Deputy Transport Minister Musa Panahov, the bank said Sept. 5.
A preliminary version of the final report was also presented at the meeting.
The sides discussed a strategy on improvement of public transport in Baku, the development of intercity rail transport, the creation of mass rapid transit system via buses, the reconstruction of the city bus system, control of the bus stops, the capital improvement of the road network and main intersections.
Consultations within the framework of the grant of $925,000 allocated by the ADB for the preparation of the investment program for the development of urban transport in Baku began in October 2013.
Azerbaijan is a member of ADB since 1999. Active credit portfolio of ADB's country reached $1.2 billion.
Since 1999, the Asian Development Bank (ADB) has invested $ 1.7 billion in projects in Azerbaijan within the framework of 20 credits and a grant agreement.
ADB was established in 1966 and has 67 members. The company's headquarters is located in Manila, Philippines. Azerbaijan joined the ADB December 22, 1999 the share of 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).