BAKU, Azerbaijan, March 11. The Asian Development Bank (ADB) has provided almost $5.5 billion in total to Azerbaijan's transport sector development, Candice McDeigan, ADB Country Director in Azerbaijan, told Trend.
According to the country director, this is about 27 percent of the total ADB's financing in the country.
"We recently completed 2 road projects under the $500 million second road network development investment program. The program constructed a 60 km long segment of the new Alat-Astara highway; and rehabilitated 70 km long R32 Ujar–Zardab–Agjabedi road, 55 km segment of M5 road from Yevlakh to Sheki, and fully rehabilitated 10 local roads with a combined length of 62km," McDeigan said.
At present, ADB is financing a railway project named Railway Sector Development Program with $400 million that comprises a policy-based loan of $250 million, and a project loan of $150 million.
"This program is improving rail service delivery and the financial viability of railway operations in Azerbaijan. The policy-based loan component supported Azerbaijan railway sector development reforms. The project loan component is financing the rehabilitation of approximately 166 km Sumgait-Yalama double track rail line. The project is scheduled to be completed by the end of 2024," she explained.
ADB has also approved a small-scale knowledge support technical assistance amounting to $225,000 in November 2022 to assist Azerbaijan Railways Company (ADY) in developing a rail transit operational plan, and to determine the optimal number of locomotive depots, their functionality, and geographical location to increase ADY’s operational performance. The implementation of this project is scheduled for the current year.
"In line with the Government’s priorities, we are ready to provide further assistance to increase the transit capacity of major transport corridors, which could boost regional cooperation and sustainable trade beyond Caucasus," she concluded.