Term Decided for Improvement of Multitranche Package of Board of Directors of Asian Bank of Development for Road Projects in Azerbaijan
Azerbaijan, Baku / Trend corr. I.Khalilova / Baku office of the Asian Bank of Development (ABD) has reported that improvement of the multitranche package for road projects in Azerbaijan and credit agreement on reconstruction part of highway of Masalli-Astara will be held during the meeting of the Boards of Directors of ABD on 28 August.
Multitranche Financing Facility (MFF) of ABD is ready to allocate $500mln to Azerbaijan, which is planning to finance three road projects, including Masalli-Astara within the framework of the agreement. Presently, one project has been agreed and ABD has allocated for implementation of this project $200mln. The negotiations on crediting agreement of the project of reconstruction part of Masalli-Astara road are scheduled for 7 August.
Technical-economic grounds of the project have been developed by the US company of TERA.