Transport Ministry announces a tender on loan of EBRD
Yolnagliyatservice Department of the Azerbaijani Transport Ministry plans to announce a tender on determination of a contractor company for the project on reconstruction of a section of the Baku-Russian border highway. The project is financed at expense of the loan allocated by the European Bank of Reconstruction and Development (EBRD), the Ministry told Trend.
The tender is supposed to be announced on two lots. Thus, the project may be implemented by one or two contractors. The working project on the reconstruction of the highway is under preparation.
The funds for implementation of the project are allocated by EBRD and Czech Eksimbank. EBRD grants $100m loan on standard conditions under the state guarantee. The sum will be spent on the reconstruction of highway from 28km to 89 km. The rest 208-km section will be reconstructed at expense of the $180m loan allocated by Eksimbank for 15 years with 4-year grace period and rate interest Libor+0.6%. The Eksimbanks loan is syndicated. $102m was allocated by Eksimbank, $78m - French BNP Paribas bank.