SAUDI DEVELOPMENT FUND DISCUSSES RECONSTRUCTION OF YEVLAKH-GANJA HIGHWAY
The delegation of the Saudi Development Fund (SDF) will arrive in Baku on 25 August. The delegationвЂ™s goal is to discuss the financing of the reconstruction of the Yevlakh-Ganja highway, the Ministry of Economic Development told Trend.
вЂњThe delegation is expected to consider implementation of other projects,вЂќ the Ministry said. The competitive selection of contractors on construction of five modern secondary schools in Baku at expense of the SDF is also underway.
The length of the Yevlakh-Ganja highway comprises 88.8 km. The value of the reconstruction comprises $58 million.
The Azerbaijani Parliament ratified a credit agreement on participation of the Islamic Development Bank (IDB) in the reconstruction of the Yevlakh-Ganja highway, which was concluded by Yagub Eyubov, the First Prime-Minister of Azerbaijan, and Ahmad Muhammad Ali, the President of the IDB, on 10 March 2005. The IDB allotted $10.4 million in this regard, while the Asian Development Bank expressed his readiness to allot $11 million more. The SDF is expected to grant $15 million, while the rest part will be paid by the Azerbaijani government at expense of the credits of the OPEC and the Abu-Dabi Fund.