World Bank to Continue Talks with Azerbaijani Government on Restructuring Railway

Business Materials 25 January 2007 12:57 (UTC +04:00)

Talks on the project on assistance to transport and trade by the Azerbaijani railway will be continued during a World Bank mission to Baku led by Senior Specialist on transport and head of the project team, Jerald Olivie. WB Baku office informed Trend that the visit will be between January 29th and February 8th.

The project has been developed since the beginning of 2006. Consultants have been attracted to the development by a feasibility study of the project at the expense of a $900,000 grant provided by the PHRD Foundation of the Government of Japan.

The project envisages restructuring passenger and cargo deliveries via railway and modifications to the financial management of the Azerbaijan State Railway (ASR) to international standards. Under the project, there are plans to improve the competitive ability of the ASR, its efficiency and commercial trend.

In accordance with WB's Partnership Strategy with Azerbaijan Government (2007-2010) $80mln is allocated to the project. It will be adopted at the WB Board of Directors by the end of 2007 financial year; by the end of June 2007. The loan will be fixed at the terms of the International Bank for Reconstruction and Development.