WB to invest $50m in Azeri roads
The World Bank has outlined plans to start a project
on developing Azerbaijan`s road infrastructure and intends to
allocate a $50m low-interest credit for roads this year.
The bank has accepted the suggestion to turn the two-lane Baku-Shamakhi-Mugan road into a four-lane highway. Under the project, the road construction is valued at $90.11 million. The WB is expected to finance construction operations reaching $72.09m, while Azerbaijan will spend $18.02m.
The WB has also financed the construction of the Alat-Masally section of the Alat-Astara highway by allocating a total of $106.1m. The rest of the road was reconstructed with the funds allocated by $200m from the Asian Development Bank. The Azerbaijani government spent $94m on the road.
The bank has accepted the suggestion to turn the two-lane Baku-Shamakhi-Mugan road into a four-lane highway. Under the project, the road construction is valued at $90.11 million. The WB is expected to finance construction operations reaching $72.09m, while Azerbaijan will spend $18.02m.
The WB has also financed the construction of the Alat-Masally section of the Alat-Astara highway by allocating a total of $106.1m. The rest of the road was reconstructed with the funds allocated by $200m from the Asian Development Bank. The Azerbaijani government spent $94m on the road.
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