By Gunay Hasanova
The state-owned rail transport operator Azerbaijan Railways and the Asian Development Bank (ADB) discussed the implementation of projects on the international transport corridors passing through Azerbaijan, as well as the long-term tasks.
The discussions were held at a meeting of Azerbaijan Railways Head Javid Gurbanov with ADB Vice President Wencai Zhang, responsible for operations in the ADB South Asia Department and the Central and West Asia Department, who is on a visit to Baku, on November 14.
Gurbanov informed Zhang about the reforms and activities carried out for reconstruction of infrastructure of Azerbaijan’s railways.
The sides also discussed medium-term prospects and priorities of cooperation, as well as further expansion of relations.
The ADB will consider allocating a $200-million loan for implementation of the International North-South Transportation Corridor.
The bank management will review the project on April 15, 2017.
The North -South, which will serve as a link connecting the railways of Azerbaijan, Iran and Russia is expected to bring huge benefits to the Azerbaijani budget. Some five million tons of freight per year is expected to be transported by means of the corridor in the initial stage with the further increase to more than 10 million tons.
The route enjoys several advantages compared to other transport corridors, as it is considered to be more profitable for each parameter than other alternative routes, including reduction of the distance and delivery time two or threefold
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