The Asian Development Bank announced its readiness to present $500 mln to Azerbaijan for the road projects. These finances will be presented within the new financing mechanism on Multitranche Financing Facility, Trend reports with reference to the statement of the ADB Baku Office.
The first tranche totaling $150-200 mln will be provided for the reconstruction of the automobile roads Masalli-Astara. It is expected to be confirmed in the first half of 2007.
The negotiations with the Azerbaijani Government regarding the road projects were held by the mission of the ADB Transport Department headed by Hong Vang, whose visit will conclude on November 22. She has been in Azerbaijan since November 8, and held talks with the Azerbaijani Vice Primer Abid Sharifov, representatives of the Transport Ministry, Ministry of Economic Development, Finance Ministry and other state bodies.