ADB to finance urban transport development in Baku in 2013
Azerbaijan, Baku, Dec.9 / Trend, N. Ismayilova /
The Asian Development Bank (ADB) will start the negotiations with the Azerbaijani government to finance development of urban transport in Baku only in 2013, Olly Norojono, ADB Resident Representative for Azerbaijan told Trend on Friday.
"We have no concrete proposals in this direction yet. However, we are open to negotiations, and have already expressed our interest. According to the bank's previously approved business plan on transactions, the negotiations in this direction will start in 2013," he said.
An investment program is under preparation city transport development in Baku. The Asian Development Bank (ADB) will provide $ 300 million to finance this program.
An advisory mission of urban transport specialists Arnaud Dauphin and Bertrand Goalou from Urban Development and Water Division arrived in Baku in early year to study opportunities for funding city transport development in the country. The meetings were held in the Transport Ministry, Azerbaijan Railways, and the Baku Metro.