International Bank of Azerbaijan-Georgia (IBA-Georgia) will be an intermediary in Baku-Tbilisi-Kars railway project to run from Azerbaijan to Turkey via Georgia.
Samir Valiyev, General Director of IBA-Georgia, told APA-Bureau that as per the final intergovernmental agreement on Baku-Tbilisi- Kars railway link
Azerbaijan is extending a $200 million loan to Georgia’s Marabda-Karsi Railroad LLC for 25 years at 1% interest rate annually.
“The first $5 million tranche will soon be allowed. It is planned to lend $50 million for 2007. It is not ruled out that the amount will be increased. The assessment of the project was carried out a few years ago and the global prices went up. An additional document can be signed between the governments for increase of the loan amount,†he concluded. /APA-Economics/
Azerbaijan may extend additional loan to Georgia for Baku-Tbilisi-Kars project
17 May 2007 17:19 (UTC +04:00)
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