Issue: May, 1, 2008
 WB allots $300m for Azeri roads
Gov’t plans to raise oil price set in budget
GUAM states to boost cargo turnover to $10bn
Azerbaijan to ink papers on WTO admission with Arab states
Number of young smokers up in Azerbaijan
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 | WB allots $300m for Azeri roads |
The World Bank has allocated a $300 million loan for the repair of Azerbaijan’s highways.
The maturity of the loan allotted under the Highway 2 Project is 40 years, while the grace period is 10 years, the bank said.
The project aims to reduce road transport costs and improve access, transit and road safety by upgrading and rehabilitating selected sections of the existing East-West and North-South corridors. The additional financing will be for the upgrading of a remaining 112 km of the highway between Alat and Masalli and reconstruction of the 41 km long Tagiyev – Sahil bypass that connects the roads from Baku to Russian and Iranian borders. It will also cover rehabilitation of about 200 km of local roads, technical assistance, monitoring and evaluation, and the cost of financial audits.
The WB has also disbursed a $8 million credit for agricultural development in Kyrgyzstan.*
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