The World Bank may provide a loan and technical assistance for the reconstruction project of the Bilasuvar–Astara section of the M3 highway, APA-Economics reports.
The issue was discussed during a meeting between First Deputy Minister of Finance Anar Karimov and a delegation led by World Bank Regional Director for the South Caucasus Rolande Pryce.
It was reported that the “Regional Roads and Development” project was completed in March this year. As a continuation of cooperation in the road sector, work is currently underway to prepare the project for the reconstruction of the Bilasuvar–Astara section of the M3 highway, as well as to provide a loan and technical assistance from the World Bank for this project.
The meeting also discussed preparations for the World Bank’s “Finance for Jobs and Growth” – FINGROW project. The project envisages the establishment of partial credit guarantee and equity financing mechanisms.
The World Bank side expressed its readiness to provide financial and expert support for initiatives aimed at expanding access to finance and developing transport infrastructure.
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