WB approves $450m for Azeri railways
The World Bank on Thursday approved a $450 million allocation for
Azerbaijan's railways, the largest loan in history disbursed to the
South Caucasus republic.
The Railway Trade and Transport Facilitation Project aims at improving railway services in the country. It also targets stepping up the competitiveness, financial sustainability, operating and cost efficiency, and capacity of the Azerbaijan Railways (ADDY) in particular along the transport corridor toward Georgia (east-west corridor).
The project will support the implementation of the first phase of the 2008-2011 Program of Railway Modernization of the Republic of Azerbaijan and will focus on institutional restructuring of the Azerbaijan Railways.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total about $1.537 billion for 38 operations.
The Railway Trade and Transport Facilitation Project aims at improving railway services in the country. It also targets stepping up the competitiveness, financial sustainability, operating and cost efficiency, and capacity of the Azerbaijan Railways (ADDY) in particular along the transport corridor toward Georgia (east-west corridor).
The project will support the implementation of the first phase of the 2008-2011 Program of Railway Modernization of the Republic of Azerbaijan and will focus on institutional restructuring of the Azerbaijan Railways.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total about $1.537 billion for 38 operations.
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