Azeri Transport ministry of sign agreements with financial institutions
During 1Q2006, Azeri Ministry of Transport repaired 144 km of roads of republican, regional and countryside importance, Trend reports. It also keep repairing roads BakuAlatGazakhGeorgian border, Baku-GubaRussian border, BakuAstaraIranian border. Road Ganja-Gazakh is completed in July.
In short, Ministry of Transport is signing a credit agreement with Asian Development Bank (ADB). Besides, it is signing a $14mln agreement with Kuwait Fund for reconstruction of road Kurdamir-Ujar.
Azeri government and ADB finished talks on credit agreement for reconstruction of roads Yevlakh-Ganja and Gazakh-Georgian border. In purposes of this project, Azerbaijan will receive 2 credits from ADB to reconstruct the roads and upgrade border facilities. First part of the project was issued $49mln (for 24 years with 4-year preferential term and annual rate libor + 0.08%), and second a lax credit at $3mln for 32 years with 8-year preferential term and preferential and normal rates 1% and 1.5%, respectively.