Czech lender to fund road project in Azerbaijan
BAKU – Azerbaijan’s transport ministry and Czech lender Komercni Bank signed a loan agreement in Baku Tuesday under a road construction project being implemented in the country’s regions, the ministry said.
The project, which envisions building two additional lanes and reconstruction of the 85 km Hajigabul-Kurdamir highway, is valued at $352 million, with 15 percent to be covered by the Azerbaijani government. The lending will be allocated in three equal tranches.
The loan covenant was signed by Transport Minister Ziya Mammadov, Finance Minister Samir Sharifov and a Komercni Bank vice-president.
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