WB reviewing Azerbaijan’s railway project
Baku, Azerbaijan, Jan. 26
By Maksim Tsurkov – Trend:
The mission of the World Bank (WB) is on a visit in Azerbaijan to review the implementation of the Rail Trade and Transport Facilitation Project in the country, the WB Baku office told Trend.
The WB mission will stay in Azerbaijan until Jan. 31.
Modernization of the railway signaling system, railway power supply system - transition from direct current (DC) to alternating current (AC), as well as improvement of the companies’ work on financial management are the main directions of the project’s inspection, said the WB Baku office.
The WB project supports a program for developing Azerbaijan’s railways aimed at improving the railway services in the country as well as developing trade and attracting transit cargo between Europe and Central Asia.
Initial funds allocated by the WB for this project stood at $450 million of the total cost of $795 million. The WB Board of Directors approved additionally $220 million in June 2013.
The funds will be used for modernizing the signaling, centralization and blocking system (SCB) for the East-West corridor on the section running from Baku to the border with Georgia.
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