The state-owned rail transport operator Azerbaijan Railways and the Asian Development Bank (ADB) discussed the implementation of projects on the international transport corridors passing through Azerbaijan, as well as the long-term tasks.
The discussions were held at a meeting of Azerbaijan Railways Head Javid Gurbanov with ADB Vice President Wencai Zhang, responsible for operations in the ADB South Asia Department and the Central and West Asia Department.
The ADB will consider allocating a USD 200-million loan for implementation of the International North-South Transportation Corridor.
The bank management will review the project on April 15, 2017.
The North -South, which will serve as a link connecting the railways of Azerbaijan, Iran and Russia is expected to bring huge benefits to the Azerbaijani budget. Some five million tons of freight per year is expected to be transported by means of the corridor in the initial stage with the further increase to more than 10 million tons.
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