TODAY.AZ / Business

EBRD to consider issue of a credit for Azerbaijan State Railway Company in December

25 August 2006 [18:50] - TODAY.AZ
The EBRD Board of Directors has re-postponed again consideration of the matter of a credit for Azerbaijan State Railway Company from Nov.7 to Dec.5, the Baku-based EBRD office informed.

Earlier the Bank planned to endorsed the credit on Apr.25, then Jun. 27, Jul.25, Oct.17, Oct.25, 2006 and then Nov.7.

The Bank has postponed it due to the fact that the Ministry of Transport has not formed yet its stand on the issue of raising the EBRD finances, Sharg news agency informs.

The EBRD is ready to finance a $50 million credit for locomotive reconstruction project. A grant of $1.5 million can be awarded within the EBRD credit for making a detailed feasibility study and project group's activity.



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