ADB clarifies work within II loan package for road development in Azerbaijan
Azerbaijan, Baku, April 24 /Trend A.Akhundov/
The Asian Development Bank (ADB) and the Azerbaijani government will discuss the work to be carried out within the second multitranche package (Multitranche Financing Facility - MFF) of the bank to develop the road network in Azerbaijan and clarify its purpose, head of ADB representative office Ollie Noroyono told Trend today.
ADB mission, headed by coordinator for the road projects of the bank in the country - specialist of the Department for Central and West Asia Reddy Bathula will visit Azerbaijan in the first half of May.
The Second Road Network Development Program worth $800 million is planned to be approved on September 28, 2012. The details will be considered from June 29 to July 13.
It is planned to finance the construction of a new four lane motorway between Alyat and Masalli within the Southern corridor; and the Ganja to Georgian border road widened to four lanes, East-West corridor and other operations through MFF.
The MFF first tranche to the amount of $100 million is expected to be approved on October 9, 2012.
ADB approved technical assistance to the amount of $225,000 to be rendered to Azerbaijan within the program.
"The operations will be reviewed during the visit within the first multitranche program," Noroyono said. "We believe that this work will be completed in time."
About $500 million was allocated from the ADB multitranche package to construct the roads. The package was approved in August 2007. About $255.4 million have been allocated from these funds.
Azerbaijan is a member of ADB since 1999. The ADB's active credit portfolio reaches $680 million. The ADB has allocated grants amounted to $13.122 million to the Azerbaijan government and local companies during the period of cooperation.