WB to allot $450m loan for railways upgrade
The World Bank board of directors will approve allocation of a $450
million loan to Azerbaijan for the upgrade of the country's railway
infrastructure soon.
The WB and the Azerbaijani government started talks on the matter on Tuesday. The bank's mission led by Gerard Olivier is in Baku for the purpose, the WB office in Baku said.
"If the discussions are successful, we will consider opening another credit line," a WB representative said.
The total cost of the project is $673 million.
Azerbaijan has been a WB member state since 1992. The bank will allocate loans within the partnership strategy for 2007-2010 to fund projects worth $1.26 billion to be implemented in the country.
The WB and the Azerbaijani government started talks on the matter on Tuesday. The bank's mission led by Gerard Olivier is in Baku for the purpose, the WB office in Baku said.
"If the discussions are successful, we will consider opening another credit line," a WB representative said.
The total cost of the project is $673 million.
Azerbaijan has been a WB member state since 1992. The bank will allocate loans within the partnership strategy for 2007-2010 to fund projects worth $1.26 billion to be implemented in the country.
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