Azerbaijan signs 140 million loan pact with World Bank
07.04.2016 17:23
The chairman of "Azeravtoyol" OJSC, Saleh Mammadov met with Larisa Leshchenko, World Bank Country Manager for Azerbaijan related with the loan agreement on "Azerbaijan Highway 3 Additional Financing” project. The loan agreement has been signed by Saleh Mammadov and Larisa Leshchenko. The agreement envisages allocation of $140 million loan to Azerbaijan for the additional financing of the Baku-Shamakhi highway. According to loan agreement, the share of Azerbaijani government in this project will be $ 43.5 million.
The amount of loan is intended for financing of three component which includes upgrade of 15-45 and 91-107 km section of the Baku-Shamakhi from two-lane into four-lane motoway.
The Baku-Shamakhi highway also constitutes part of the shortest route to the Georgian border, and connects Baku with major agricultural producers in the west of Azerbaijan.
www.ann.az
Facebook
Follow us on Facebook
Photo
Video
