EBRD to allocate $ 500 mln for road infrastructure renewal in Azerbaijan

Brussels. 24 November. REPORT.AZ/ The European Bank for Reconstruction and Development (EBRD) will support improvement of road infrastructure in Azerbaijan in 2018.

Francis Malige, EBRD Managing Director for Eastern Europe and Caucasus told Report.

"The EBRD is considering implementation of many large projects in Azerbaijan next year. The bank intends to allocate funds for renovation of the highway from Ganja to Red Bridge along the Georgian border. Also, we will continue investing in the improvement of secondary road network in Azerbaijan", he said.

Malige added that the EBRD will continue works with local small and medium companies and banks to diversify economy in Azerbaijan in 2018: "Total budget for the road infrastructure projects to be implemented in 2018 varies between $ 300-500 mln".