Azerbaijan’s Parliament Approves Credit Agreement with South Korean Bank
Azerbaijan, Baku / corr. Trend I.Alizade / The e session of the Azerbaijani Parliament on 31 May approved the credit agreement between the Government of Azerbaijan and the South Korean Bank of Shinkhan regarding the reconstruction of Yevlakh-Ganja road. The Chairman of Parliament's Permanent Commission on Economic Policy, Ziyad Samadzade, said that the agreement had been signed on 23 April 2007 in Seoul. The Bank agrees to allocate $180mln for the road's reconstruction. The credit will be granted for fourteen years with 0.8% annual interest.
The Yevlakh-Ganja road is 69km in length and 15m in width.
The Chairman of Azeryol JSC, MP Javid Gurbanov, said that the road will be reconstructed.