Azerbaijan to loan USD 150 million for Kars-Akhalkalaki railway

USD 200 million is needed for constructing the segment of the railway that passes through Georgia, but Georgia does not have this money. Other partner countries of the project assumed the responsibility of financing the construction.

An agreement was reached in which Azerbaijan will front USD 150 million of the cost and Turkey will front the remaining USD 50 million.

Georgia will forego transit fees to Azerbaijan until its debt is paid in full.

The final details of Kars-Akhalkalaki railway construction project will be settled during the visit of Azerbaijan Minister of Economy to Georgia, reports the newspaper 24 Saati. The Messenger