Baku, Azerbaijan, May 21
By Matanat Nasibova – Trend:
As of today, there are several joint projects to be implemented by Azerbaijan and the Asian Development Bank (ADB), some of which are under consideration, Azerbaijani Finance Minister Samir Sharifov said at a regional public debt management forum, Trend reports.
According to him, at present, two tranches of the loan for improving public administration in Azerbaijan have been received.
"The second project aims at developing the railway infrastructure. That is, we [i.e. the government - editorial note] take a loan from ADB and allocate it to the railway company of Azerbaijan. The project’s goal is that, on the one hand, the company receives financial resources that it uses to manage its liquidity, and on the other hand, part of the funds goes to the improvement of the railway infrastructure," the minister said.
Sharifov added that this project is carried out on the basis of co-financing. The government also contributes a certain part of the funds to the construction of a railway section from Baku to the northern border. This project is now in an active phase of implementation, and, in addition to ADB, the French Development Agency is also involved in its financing.