ADB may approve new loan granting to Azerbaijan on December 1 - EXCLUSIVE

Baku. 14 November. REPORT.AZ/ On December 1, Board of Directors of the Asian Development Bank (ADB) will discuss allocation of loan to "Azerbaijan Railways" CJSC.

Report informs, $ 400 mln loan may be granted to Azerbaijan.

The funds to be allocated in 5 phases considered for the initial stage of renewal project of the country's railway infrastructure. The question is about reconstruction of Baku-Yalama railway line. $ 150 mln of the loan intended for the line rehabilitation, the remaining $ 250 mln for corporate restructuring of the railroad.

Notably, on October 23-25, a delegation consisting of representatives of Azerbaijan Railways (AR) and Ministry of Finance visited Manila, the Philippines for talks on the project.