Georgian parliament ratifies agreement on new loan for Baku-Tbilisi-Kars project

The Georgian Parliament has ratified an agreement to allocate Azerbaijan's credit to Georgia to launch the Baku-Tbilisi-Kars project, Trend reports.

Azerbaijan has allocated $575 million to Georgia for 25 years at an interest rate of five percent additionally to construct the Georgian section of Baku-Tbilisi-Kars railway.

This loan has been allocated to the Kartsakhi-Marabda company. The loan will be returned from the profit received as a result of the realization of the project after the railway will be put into operation.