Azerbaijan, Baku, Aug. 27 / Trend /
The Azerbaijani Transport Ministry has announced a tender for a company to act as a technical consultant on the reconstruction project of the Hajiqabul-Bahramtapa highway. The World Bank will finance the project. Bids should be submitted by Sep18, 2009.
Earlier, WB Board of Directors approved giving Azerbaijan two loans worth $183 million, the WB Baku Office reported.
The WB will allocate a $175 million loan as part of the project on the construction and reconstruction of the Hajiqabul-Bahramtapa highway. The project plans to repair the Hajiqabul-Bahramtapa highway, which is 112.5 kilometers long, along with 200 kilometers of local road.
A $62 million loan from the International Development Association has been issued for 20 years with a grace period of 10 years and a $113 million loan was issued by the IBRD for 20 years with a grace period of 4 years.
The total cost of the project exceeds $200 million, and the remaining will be financed by the Azerbaijani government.
Azerbaijan and the WB have cooperated since 1992. So far, the WB has financed projects worth $2.5 billion.