Today.Az » Business » Czech Export Bank allots $180m credit to Azerbaijan
22 June 2005 [08:42] - Today.Az
The Czech Export Bank has approved $180m credit for Azerbaijan under the reconstruction of the automobile routes.

It was announced in a Tuesday meeting of the permanent parliamentary commission on economic policy, which discussed a document on "Adoption of a credit agreement between Azerbaijan and Czech export bank on financing the project on reconstruction of a 208km long automobile route from Baku to the Russian border”, Trend reports.

The credit agreement was signed by the Azerbaijani Ministry of Finances and Czech Export Bank. "The Czech Export Bank approved $180m and the European Bank for Reconstruction and Development - $100m. Around 1.3m will be spent on the construction of each kilometer of a four-stripe and two-side highway," Javid Gurbanov, the head of the Negliyyatservis Department of the Transport Ministry, told Trend.

After the discussions the documents was passed to the parliament.

Copyright © Today.Az