BAKU, Azerbaijan, October 1. The Asian Development Bank (ADB) has approved the allocation of a loan of $47 million to support the digitalization of Azerbaijan's railway system, Trend reports via ADB.
“This funding will significantly improve the safety, reliability, and efficiency of Azerbaijan Railway networks. As part of the digital transformation of the Azerbaijan Railways, the ADB will support the digitalization of key processes, including cargo operations management, asset maintenance, repairs, and investment planning,” the ADB statement noted.
The project will also roll out a customer information access system, tackling pricing and tax calculations head-on.
This initiative will also put its money where its mouth is by funding digital enhancements to the corporate functions of Azerbaijan Railway CJSC.
“Digitalization will bolster Azerbaijan's pivotal role in connecting the economies of East and Central Asia with the Caucasus and Europe,” Director General of the Central and West Asia Department of ADB Eugene Zhukov said.
He emphasized that the project will help Azerbaijan fully realize its potential as a trade and logistics hub.
According to ADB transport specialist Nanyan Zhou, the digitalization of Azerbaijan Railways is critical for enhancing operational efficiency and Azerbaijan's competitiveness in regional transit corridors.
“Azerbaijan's railway lines are essential in corridors 2 and 6 of the Central Asia Regional Economic Cooperation (CAREC) Program, and this digitalization project aligns with the CAREC Strategy through 2030,” the ADB statement added.
Since 1999, Azerbaijan has received over $5 billion in loans from the ADB.
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