The Asian Development Bank has allocated $250 million to the Ministry of Transport of Azerbaijan. The second tranche of the Second Road Network Development Program adopted in 2012 was approved yesterday.
Thanks to the government share ($ 82 million), the total budget of the tranche is $ 332 million. These funds are planned to reconstruct the 33-kilometer stretch Djalilabad-Shorsulu (ten million per kilometer).
In road program includes construction of a new road Masalli-Shorsulu, 63 km. The new four-lane road will be focused on what to cover new transportation needs that will arise until 2025. The first tranche will be oriented to Masalli-Jalilabad (30 km), while the second – to Djalilabad-Shorsulu (33 km). - 17D-
Economics
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In July 2024, the State Oil Fund of the Republic of Azerbaijan (SOFAR) reported a sharp increase in currency sales, reaching $826.3 million. This figure is three times higher than the $272.7 million recorded in July 2023 and twice the amount for June 2024.
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The State Statistics Committee has reported a decline in Azerbaijan's grain production for the first half of 2024, with output totaling 1.96 million tons of grain and legumes, including corn. This represents a 5.6% decrease compared to the same period last year.
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Azerbaijan's President Ilham Aliyev has issued a decree making significant amendments to existing presidential decrees to align with the new law on payment services and payment systems, effective from July 14, 2023.
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Azerbaijani President Ilham Aliyev has approved new regulations governing tourism and recreation zones as part of a broader effort to enhance the sector's infrastructure and investment framework.
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