WB to complete one of projects in Azerbaijan by year end
Baku, Azerbaijan, Jan. 15
By Taleh Mursagulov – Trend:
The World Bank expects to complete the Third Highway Project in Azerbaijan by the end of 2019, the WB local office told Trend.
WB and Azeravtoyol OJSC are reviewing the progress in the Third Highway Project at the moment.
From Jan. 15 to Jan. 18, the WB experts will familiarize themselves with the project implementation process.
The Third Highway Project with a total value of $356.15 million, out of which $241.6 million account for a WB loan, was approved in 2010. The project includes two directions - the first concerns the reconstruction of Azerbaijan's main road network and transit corridors, the second covers the local roads as part of a regional development strategy.
Azerbaijan joined the WB Group in 1992. The bank has allocated loans for implementation of over 50 projects in the country worth over $3 billion. There are seven more projects, worth about $1.5 billion, which are currently being implemented. Besides loans, WB allocated 45 grants to Azerbaijan totaling $41.586 million in a period from 1995 to 2014.
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