The WB allocates a loan of 140 million for expansion of Baku-Muganli

The World Bank (WB) is considering the possibility to allocate to  Azerbaijan $140 million loan in addition to the expansion of the road Baku-Shamakhi-Muganli,  according to the  WB office in Baku.  The World Bank participated in the financing, and the first stage of the road Baku-Shamakhi-Muganli a few years ago. Now, the expansion provides the same road with two lanes to four.

It is expected that the loan will be allocated before the end of the fiscal year, which ends at the World Bank  on June 30, 2016. Other projects between the parties will not be considered until the end of this fiscal year. At the same time, between the WB and Azerbaijan continue consultations on the support of economic reforms. Since 2010, the World Bank is financing the project of reconstruction of the main road, with a total value of 356.15 million dollars. This project includes two areas: the reconstruction of trunk roads and transit corridors of the country, and the second - local roads.

In addition to the reconstruction of the road Baku-Shamakhi-Muganli, the World Bank also participated in the financing section of the Alat-Salyan highway and Baku-Astara.

Azerbaijan became a WB member since 1992. According to the February 1, 2016, the World Bank has allocated to Azerbaijan for realization of projects  more than 60 loans totaling $3 billion 785.82 million  dollars. In addition, in 1995-2014 years the World Bank has allocated to Azerbaijan 45 grants totaling $41,586,000.-06B-