The Asian Development Bank (ADB) has postponed the allocation of a USD 200 million loan for the North-South Transport Corridor and Azerbaijani Railways. The Bank’s management review meeting was postponed from April 15 to August 25, 2017.
The project loan will be used mainly for investment in the Baku-Yalama rail line of the North South Transport Corridor. The project also enhances management autonomy of Azerbaijani Railways (ADY) and transport sector governance, effective financial restructuring of ADY’s liabilities, enhance financial and management control, efficiency and reporting of ADY and business development and corporate restructuring of ADY.
Infrastructure rehabilitation of the North South Transport Corridor, for the Azeri part, consists of repair and rehabilitation of 441 km of single track between Baku and Yalama, development of computerized freight operation management system and consulting service support to project implementation.
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