Azerbaijan signs 140 million loan pact with World Bank

The chairman of "Azeravtoyol" OJSC, Saleh Mammadov met with  Larisa Leshchenko, World Bank Country Manager for Azerbaijan  related with the loan agreement on "Azerbaijan Highway 3 Additional Financing” project. The loan agreement has been signed  by Saleh Mammadov and  Larisa Leshchenko. The agreement envisages allocation of  $140 million loan to Azerbaijan for the additional financing of the Baku-Shamakhi highway. According to loan agreement, the share of Azerbaijani government in this project will be $ 43.5 million.

 

 

The amount of loan is intended for financing of three component which includes upgrade of 15-45 and 91-107 km section of the Baku-Shamakhi from two-lane into four-lane motoway.