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$7 bn investment allocated to Azerbaijanâ€™s transport sector within past 5 years

$7 bn investment allocated to Azerbaijanâ€™s transport sector within past 5 years

04 May 2011 09:29 (UTC +04:00)

Baku. Ali Ahmadov â€“ APA-Economics. In 2006-2010, Azerbaijanâ€™s state budget allocated $5 bn to development of transport sector, Minister of Transport Ziya Mammadov told official website of YAP.

Moreover, international finance institutes allocated more than $2 bn to the mentioned sphere. Consequently, more than $7 bn investment was allocated to transport sector within the past 5 years.

The minister said that in 2011, AZN 722 mln was considered to allocate for financing of projects implemented on development of motor way network in Azerbaijan. AZN 134.5 mln was spent to these works in Q1. AZN 170 mln is considered to allocate from budget fund to maintenance of motorways. In January-March, AZN 60 mln was used from these funds. AZN 24 mln funds are considered for maintenance of motorways of Baku city and AZN 4.5 mln was spent in Q1.

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