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Azerbaijan starts negotiations with WB to borrow new loans - EXCLUSIVE

Azerbaijan starts negotiations with WB to borrow new loans - EXCLUSIVE

World Bank’s transport mission has visited Azerbaijan.

Report informs that the delegation led by Aymen Ahmed Osman Ali has been holding meetings in Baku since the beginning of this week.

The mission, which will leave Baku on July 25, has held meetings in Azerbaijan Railways and other bodies.

The main topic is allocation of new loan for reconstruction of the railway network from Baku to the south of Azerbaijan. Currently, the amount of the loan and other conditions are being discussed.

Chairman of Azerbaijan Railways Javid Gurbanov had said that Azerbaijan was considering borrowing a loan from the World Bank for reconstruction of a part of Baku-Astara-Iran’s border railway line.

According to him, a part of the funds will be allocated from the state budget: "Totally, 243 km of railway will be reconstructed. As a result of these works, the railway will be broadened to two-line."

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