FOREIGN INVESTORS READY TO FINANCE ROAD PROJECT
Some foreign investors take much interest in financing the reconstruction and construction of some sections of the Baku вЂ" Georgian border road system.
The government told Trend that the Asina Development was ready to allot $100m for financing the Yevlakh-Ganja section. Besides, the World Bank will also take interest in financing, and is ready to assign some $94m for financing the Ganja-Gazakh section.
The total length of the route is 520km and the total budget of the project is $300m. This section of the Baku-Alat road has been reconstructed since 2001 at the expense of the government funds of $16m, work in the Alat-Hajigabul section was also done through financing of the Islamic Bank for Development and Kuwait Fund, which allotted $36m, work in Hajigabul-Kurdamir section has started since May 2005 at the expense of financing by the European Bank for Reconstruction and Development ($40m). The Kurdamir-Georgian border section was financed by the Islamic Bank for Development and Kuwait Fund. The work in the Yevlakh-Ganja and Ganja-Gazakh sections can be financed by the ADB and the WB.