The Azerbaijani government and the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group (WB), signed a loan agreement worth $ 65 million on October 27, the Minister said. the country’s finance ministry at News.Az.
The document was signed by Azerbaijani Minister of Finance Samir Sharifov and World Bank Regional Director for Azerbaijan Sarah Michael.
The funds from the loan will be used to rebuild the Yenikand-Bilasuvar section of the Alat-Astara state border with Iran, create a model to ensure the efficiency and safety of this road, improve the quality of new road services, manage logistics and market infrastructure. in the territories along which it passes the track and other types of technical assistance.
The implementation of the project will ensure safe and efficient transport to Salyan-Bilasuvar in southern Azerbaijan and improve market access. People living along this route will have access to improved road infrastructure, economic opportunities and key service facilities.
Azerbaijan has been cooperating with the WB since 1992. During this period, the bank allocated a total of $ 4 billion to projects implemented by Azerbaijan.