The Asian Development Bank expects the feasibility study for evaluation of the project on financing of the North-South Railway Corridor, as well as development of the railway sector in Azerbaijan to be ready no later than in August, ADB Country Director for Azerbaijan Nariman Mannapbekov said.
“We will submit our considerations to the government and to the head of the Azerbaijan Railways about the financing of the most priority sections of the North-South Corridor. We don’t know exactly the amount, because the grant for the development of a feasibility study for the project is approved. Consultants have started the work, and the feasibility study will be developed in late July-early August. Only after this it will be possible to name the approximate amount. So far, we have planned about USD 200 million for the investment. But the amount can be either larger or smaller,” Mannapbekov mentioned.
Earlier, ADB postponed consideration of allocating a loan worth USD 200 million for implementation of the North-South Transportation Corridor, as well as for the development of the railway sector in Azerbaijan. The Bank planned to review the project this April but the event is postponed to August 2017.
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