A mission of the French bank BNP Paribas is in Baku to discuss the terms of the credit agreement on the project on widening the highway from Hajigabul till the border with Georgia from dual road to dual-dual one, Trend reports.
According to a source in the Government, the Bank expresses its readiness to grant $
300 m. for these aims. These funds will be sent to the financing of the sections of the highway Hajigabul Yevlakh (184.8 km) and Gazakh- the Georgian border (38 km).
According to the project on the credit agreement, BNP Paribas will give the credit on the following terms: 13 years of the credit period, with the lax period of 3 years, and the interest libor+0.5 pecent.
The Transport ministry has elaborated a feasibility study on the basis of the technical documentation prepared within the TACIS technical aid. A dual-dual road built from the very start of the project; therefore, the rest section of the highway is expected to be built to bring to conformity with it.
To build the 400 km first-class road on the section from Hajigabul to the border with Georgia, proposals put forward by the World Bank, Slovakia`s Export Bank is under consideration now.