ADB familiarize with TEO of Masalla-Astara highway reconstruction project

Business Materials 20 July 2006 14:05 (UTC +04:00)

In the first decade of August, the mission of Asian Development Bank headed by road project expert Hong Wang is making a visit to Baku. AFB Baku office representatives told Trend within the four-day visit bank experts will get acquainted to TEO drawing process for Masalla-Astara highway reconstruction project.

For this purpose, ADB is allotting a $700k grant, agreement on which was signed in May 2006. Upon the project preparation, ADB said of its readiness to issue a $100mln credit.

The World Bank already financed reconstruction of highway sections Alat-Shorsulu and Baku-Shemakha-Mugan, having issued for this $200mln. This project also includes participation of Iranian Bank to issue $40mln.

ADB road mission will lead discussions on Yevlakh-Ganja and Gazah-Georgian border roads reconstruction projects. The $52mln credit has not come into effect to date due to some governmental procedures (parliamentary approval), but the project is being prepared to.