$5bn spent on Azeri transport in five years
BAKU – Over $5 billion has been allocated from Azerbaijan’s state budget for the development of the country’s transport sector in the past five years, Deputy Prime Minister Abid Sharifov said Tuesday.
Loans worth $2 billion have been drawn to this field of the economy in 2006-2010, with Azerbaijan allotting $400 million of the amount, Sharifov told an international business forum.
According to him, the government is placing an emphasis on the development of railway transport. A $1.2bn state program for 2010-2014, approved this year, envisions upgrade of rail lines, purchase of new railway carriages and other activities.
The two-day forum, dedicated to the 130th anniversary of Azerbaijan’s railways, is attended by 260 representatives of 136 companies and organizations from 23 countries.
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