Azerbaijan, Baku, 10 January / Trend corr. I.Khalilova / The mission of the World Bank, headed by Olive Le Ber, a specialist on road infrastructure of the bank, is to complete consultations with the Azerbaijani state on financing the construction of the Alat-Masalli and Baku-Shamakha-Mugan highways and the second circular road, the Baku representative of the WB reports. The bank is planning to allocate $200mln for the construction purpose.
WB is going to hold feasibility study of the project in February. The additional funds will be allocated for expansion and change the route of the Alat-Masalli highway as a result the length of the highway will be shortened from 230km to 200km, as well as to re-construct of the Baku-Shamakha-Mugan road, which connect Baku with the west regions of the country.
WB Council of Directors allocated the first credit in the amount of $200mln to the project on the base of the terms of the International Bank of Reconstruction and Development for 20 years privilege period of 4 years and libor+0.5% interest rate from 17 January 2006. Although $70mln of the allocated funds was directed to finance of another highway projects.
The second highway is planning to construct from Zabrat to Zikh village. The bank is going to allocate credit in the amount of $50-56mln on the line of the International Bank of Reconstruction and Development. WB is also ready to allocate grant to develop the technical-economic basing of the project.
The transportmission's visit to Baku completes on 11 January.