Bank Of Baku

KfW to invest development of railways in Azerbaijan

KfW to invest development of railways in Azerbaijan
# 08 February 2010 12:03 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. German Development Bank is ready to invest for the development of railways in Azerbaijan, said Natig Abdullayev, the bank’s official.

According to him, the World Bank is realizing the support project of railways trade and transportation in Azerbaijan, which entirely covers the development of railways infrastructure in Azerbaijan. “Notwithstanding that, if Azerbaijani government needs additional investment for the development of the infrastructure mentioned above, KfW is ready to invest. Everything depends on Azerbaijani government’s demands and the amount that KfW can invest. These all request wide negotiations”, he noted.

The World Bank has invested USD 450 million on the framework of the project realized in Azerbaijan. The State Program of Railways development covering 2008-2012 is estimated to cost USD 1.5 billion.
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