The Asian Infrastructure Investment Bank (AIIB) has approved a sovereign loan of $180 million for the first phase of the Baku Metro Expansion Project, APA-Economics reports, citing the Bank.
According to the information, the AIIB approved the financing on February 6.
It was noted that the project aims to improve the service reliability of the Baku Metro, improve the efficiency of maintenance and strengthen operational safety, as well as create conditions for future metro expansion.
The project involves the construction and equipping of the Darnagul and Khojasan depots, as well as improving safety, environmental and social indicators at 10 existing stations on the Green Line.
The AIIB emphasized that the creation of depots is a key infrastructure base for the development of the Baku Metro, and this will create a critical opportunity, especially for the separation of the Red and Green lines at the May 28 station.
It should be noted that the Ministry of Finance of Azerbaijan acts as the borrower for the project, and the implementing agency is Baku Metro CJSC.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
