In the following 4 years the World Bank (WB) plans to allot $0.5bln for rehabilitation of transport infrastructure in Azerbaijan, Trend reports. Christian Peterson, the WB leading economist, said that the funds are allocated for the reconstruction of the highways.
Presently, the construction work is carried out in the western and eastern directions to the Georgian border with WB financial support. Construction work is about to begin in the southern direction to the Iranian border. WB intends to intensify its activities in regulating transport system of Baku and remove traffic jams.
Program on assistance to country transport system will be expanded after conduct of analysis. Later we want to set up work on rehabilitation of railway sector. There are big perspectives for the development of railway system in Azerbaijan through its upgrade and conduct of institutional reforms. It will enable increase of its potential in condition of rise in cargo flow via railway, said WB economist.
In 2007 WB plans to approve $80mln for support of trade and transit by railway. $200mln is planned for the traffic improvement and transit routes management system in 2008. The same sum will be allocated in the subsequent two years (2009-2010).
Funds for the road projects will be allocated at commercial terms though the International Bank for Reconstruction and Development.