World Bank to approve new road project in Azerbaijan

World Bank to approve new road project in Azerbaijan

Baku, Azerbaijan, May 3

By Emin Aliyev - Trend:

The project "Regional Roads", considering reconstruction of roads in the south of Azerbaijan, may be submitted to the Board of Directors of the World Bank in November, the head of bank's Baku office Larisa Leshchenko told Trend.

The project remains under development with the working group exploring all the nuances, she said.

The corresponding negotiations with the government have already been completed, according to Leshchenko.

"WB is ready to provide $ 200 million for the implementation of the project," the head of Baku office said.

The World Bank is one of the most important organizations, cooperating with Azerbaijan which joined the bank in 1992. Official talks on 51 projects have been held since Azerbaijan joined the World Bank.

Loan agreements totaling $3.349.5 billion were signed to finance them. About $1.7 billion of the amount was allocated for the implementation of road projects. The largest loan worth $670 million was allocated for improvement of the railway infrastructure and in particular, the reconstruction of the track on the Baku-Boyuk Kesik border with Georgia section.

The World Bank also finances the modernization and rehabilitation of road sections of the existing East-West and North-South corridors, namely the Alat-Masalli third highway, rehabilitation of the Kurdamir-Ujar section of the Baku-Georgian border highway, rehabilitation of the Baku- Shamakhi road, reconstruction of the road from Tagiyev settlement to the Sahil settlement bypassing Baku, Hajigabul-Bahramtepe road and expansion of the Baku-Shamakhi/Muganli highway.

Edited by C.N.

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