France`s BNP Paribas to fund upgrade of roads
French BNP Paribas, one of the largest banks in the world, will
allocate a $400 million loan for the upgrade of roads in
Azerbaijan. The Milli Majlis (Azerbaijani parliament) passed a law
to ratify a relevant loan covenant on Tuesday.
Under the agreement, reached by the government with the French joint-stock company, the 156-km section of the 280-km road stretching from the capital Baku to Yevlakh through Shamakhi, as well as the 164-km road extending from Yevlakh to the border with Georgia through Zagatala, will be renovated.
Under the agreement, which was signed in June, BNP Paribas will fund the purchase of materials and provide services required for the projects.
Under the agreement, reached by the government with the French joint-stock company, the 156-km section of the 280-km road stretching from the capital Baku to Yevlakh through Shamakhi, as well as the 164-km road extending from Yevlakh to the border with Georgia through Zagatala, will be renovated.
Under the agreement, which was signed in June, BNP Paribas will fund the purchase of materials and provide services required for the projects.
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