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ADB allocates up to $300 mln for construction of road infrastructure in Azerbaijan

22 December 2014 09:56 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. Asian Development Bank has confirmed the loan in amount of $295 mln for reconstruction of roads and construction of bridges, as well as construction of new highways in Azerbaijan, Resident Representative of Asian Development Bank (ADB) for Azerbaijan Olly Norojono.

According to him, ADb will allocate $45 mln for reconstruction of local roads and construction of bridges in Ganja-Gazakh region, $ 250 mln for construction of new highways in Jalilabad and Shorsulu.

Moreover, ADB has allocated $4.5 mln technical aid for microfinance, city transport, solid waste management and energy sector.

Current active portfolio makes $1.2 bln. $231 mln-contracts were signed in 2014, which exceed forecast. Within the projects, $161 mln was spent in 2014, that makes 90% of forecast.