ADB to review loan for North-South project by late summer
The Asian Development Bank has postponed the allocation of a $200 million loan for the North-South Transport Corridor and Azerbaijani Railways.
The Bank’s management review meeting was postponed from April 15 to August 25, 2017. The project fact gathering mission will be in the country on August 1-11, 2017, instead of March 11-25, according to Vestnik Kavkava.
The project loan will be used mainly for investment in the Baku-Yalama rail line of the North South Transport Corridor. The project also enhance management autonomy of ADY and transport sector governance, effective financial restructuring of ADY’s liabilities, enhance financial and management control, efficiency and reporting of ADY and business development and corporate restructuring of ADY, abc.az reports.
Infrastructure rehabilitation of the North South Transport Corridor consists of repair and rehabilitation of 441 km of single track between Baku and Yalama, development of computerized freight operation management system and consulting service support to project implementation.