A new $65 million loan to the Republic of Azerbaijan to finance the Regional Connectivity and Development Project was approved today by the World Bank Board of Directors, Report informs, citing the Bank.
With a total cost of $95.8 million, the project will provide safe, efficient, and climate-resilient transport connectivity and improve market accessibility along the Salyan-Bilasuvar road in the south of the country.
The project consists of four components. The cost of the first component ‘Road Connectivity’ is $59.24 million. The main sub-component ($55.63 million) envisages rehabilitation of selected sections of the road between 31.9 km and 103.3 km.
The $2 million-second component “Road Sector Sustainability” is aimed to improve network management and operational efficiencies through the application of intelligent transport systems, and provide technical assistance to the construction of relevant infrastructure for electronic tolling.
Third, the project will support the design and arrangement of roadside logistics and market facilities, and the provision of skills training to local entrepreneurs, to improve income-generating opportunities for local communities.
The fourth component covered project management.
Azerbaijan has been in cooperation with the World Bank since 1992. The Bank has allocated about $4 billion for Azerbaijan on more than 50 projects.