TODAY.AZ / Business

Transport Minister: "Azerbaijan studies possibility of financing railway projects"

16 March 2006 [01:21] - TODAY.AZ
The negotiations on allocation of the second loan to the Azerbaijani State Railway Department (ASRD) by the European Bank of Reconstruction and Development for reconstruction of the locomotive park continue.

At present the policy of Azerbaijan consists in minimal borrowing for implementation of projects. The same time financing may be carried out by the state as well, Trend reports quoting Ziya Mammadov, the Azerbaijani Transport Minister.

At present Azerbaijan studies whether it can finance the project on reconstruction and modernization of the locomotive park.

At present the World Bank (WB) and the Asian Development Bank (ADB) show interest in allocation of loan to ASRD. WB is ready to grant $100m loan, while ADB has not determined the sum of the loan.

As to EBRD, all terms on the loan were unified and technical documentation was drawn up. Besides, ERBD is ready to allocate grants for financing of drawing-up of technical documentation on other railway projects.

URL: http://www.today.az/news/business/24169.html

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