TODAY.AZ / Business

Loan for State Railway Office to be discussed at EBRD meeting in May

31 March 2006 [08:36] - TODAY.AZ
The issue on lending $50 million credit to the Azerbaijan State Railway Office (ASRO) will be reviewed at the meeting of the Directors' Board of the European Bank for Reconstruction and Development (EBRD).

The date of the credit approval is May 16, 2006, as APA reports.

One part ($27 million) of the credit to be attracted from the EBRD will be utilized for modernization of the locomotive fleet of ASRO, and the remaining funds ($23 million) for establishment of depots in Bilajari and Boyuk Shor for servicing locomotives, capital repair of 60 electric diesel locomotives and purchasing of spare parts.


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