EBRD to finance road reconstruction in Azerbaijan

The Azerbaijani Transport Ministry and the European Bank for Reconstruction and Development (EBRD) will sign a deal on financing reconstruction of the Mingyachevir-Bakhramtepe motorway in Baku, 1news.az reports.

There will be three tranches worth $250 million each. The two-line motorway is 166 km long, belonging to the third and partly second technical category. Reconstruction will make it a second-category road. It is part of the Azerbaijani road infrastructure, financed by the state budget, the World Bank ($675 million) and the Asian Development Bank ($500 million).