ADB to fund projects of Azerbaijan Railways

Within the framework of Country Operations Business Plan for 2015-17 on Azerbaijan the Asian Development Bank (ADB) chose Azerbaijan Railways (ADY) as one of the main partners.

This year the Bank is ready to approve Baku-Sumgait Commuter Rail Service Project for ADY. With a total project budget of $200 million the Bank is ready to give a $100 million loan. It is expected to raise by another $50 million from the government and as co-financing, abc.az reports.

In addition, in 2017 the ADB is ready to endorse the first project of MFF Railway Investment Program. Although the MFF will have a budget of $500 million, its first project will be much less - $133 million. The ADB will allocate $100 million for the first project and will raise $33 million from the government of the country.