Azeri gov’t gets $270m for highway upgrade
The Azerbaijan Transport Ministry on Tuesday signed
loan covenants worth $270 million with the France-based bank group
BNP Paribas SA and two Israeli banks to finance upgrade of a
highway stretching from the capital Baku to the Yevlakh district.
Construction operations on the Mughanly-Yevlakh section of the
Baku-Shamakhy-Yevlakh highway are due to begin next year.
70 percent of the amount will be provided by BNP Paribas, while Bank Leumi and Bank Mizrahi-Tfahot, Israel's major banks, each have 15 percent participation. The loan is being extended for 14 years. Four years are a grace period, while over the following ten years the borrower is to repay the funds in 20 equal installments.*
70 percent of the amount will be provided by BNP Paribas, while Bank Leumi and Bank Mizrahi-Tfahot, Israel's major banks, each have 15 percent participation. The loan is being extended for 14 years. Four years are a grace period, while over the following ten years the borrower is to repay the funds in 20 equal installments.*
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