The Asian Development Bank (ADB) mission will visit Baku on 21 February to set up final talks with the Azerbaijan Government on road projects to be financed under the new mechanism of Multitranche Financing Facility, Trend reports. The ADB Baku office reported that Mr Hong Wang would lead the transport Department mission.
Last November the Asian Bank projected $500mln to Azerbaijan under road projects. Within this framework the Ministry of Transport has developed preliminarily projects which can be financed at the expense of these funds. Talks will be carried out during Mr. Wang's one week visit to Baku.
The first tranche in the amount of $150-200 mln will be allotted for the reconstruction of a section of the Masally-Astara highway. The document will most likely be adopted at the ADB Board of Directors late April-early May 2007.