French bank BNP Paribas has submitted a credit agreement on the project of the widening of the dual highway from Hajigabul to the Georgian to the dual-dual highway.
According to the Transport Ministry, the bank is ready to grant $300 m. for these aims. These means will be sent to the financing of the highway sections Hajigabul-Yevlakh (184.8 km.), and Gazakh-Georgian Border (38 km), Trend reports.
In accordance with the project of the credit agreement, BNP Paribas will grant the credit for the term of 13 years with 3 years as a period of grace, and the interest libor+0.5 per cent.
The Transport Ministry has worked through the feasibility study of the project on the basis of the technical documentation being prepared within the TACIS technical aid. The highway to Hajigabul was built as a dual-dual one, the rest section of the road will be built to bring to accordance with the previous section. Notably, to build 400-km section of the highway from Hajigabul to the border with Georgia, the Azerbaijani party is considering proposals put forward by the World Bank, Slovakian Export Bank as well.