WB increases funding for reconstruction of regional roads in Azerbaijan
Baku, Azerbaijan, July 30
By Emil Ismayilov - Trend:
The World Bank (WB) is ready to increase funding for the implementation of new "Regional roads" project in Azerbaijan up to $250 million, according to the concept of the project published on the official website of the bank.
The WB initially planned to allocate $200 million on a project for the reconstruction of roads in the south of Azerbaijan.
In accordance with the concept, the total cost of the project is $ 368.33 million, some $250 million of which will be allocated by the International Bank for Reconstruction and Development (IBRD, part of the WB).
These funds will be used for the reconstruction of two regional road sections and the adjoining local roads with a total length of up to 100 kilometers. Shirvan - Nokhudlu - Salyan (41 kilometers) and Salyan - Nefchala (43 kilometers) are the two main sites, that credit resources will be allocated for the reconstruction. The consultations on technical supervision will also be considered within the frame of the project.
The approval of the loan by the Board of Directors of the bank is expected on October 16, the concept said.
Azerbaijan has been a member of the World Bank since 1992. Total liabilities of the bank to the country have amounted to over $3 billion on 54 projects during this period. About $1.7 billion was allocated for the implementation of road-transport 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 CN