On March 28 the World Bank Board of Directors approved a loan agreement with the government of Azerbaijan on extra financing for construction of the main highway Baku - Shamakhi.
This project involves the expansion of the 99-kilometer roadway from 2 to 4 lanes of the first level.
The World Bank reported that the funds have been allocated for the completion of the construction, as well as the formation of a new management system and operation of highways.
In 2011, the World Bank allocated $ 241.6 million for the construction of the Baku-Shamakhi road (110 km). These works were to be completed within 3 years. However, they continue to this day, and it is unclear when they will be completed.
Reconstruction of the two existing lanes of the highway Baku-Shamakhi was carried out in 2008-2012. The estimated cost of this phase of the work was $ 356.15 million. Of these, $ 50 million was to be allocated by the Azerbaijani government. It is not known how much really the work cost.
Note that currently the bulk of the previously reconstructed road on this route is subject to re-repair. The first two lanes were reconstructed by the companies Accord and Azerinsaatservis.
The contractor of the construction is the Turkish company Pilat Yol Yapi A.S. ------08D
Economics
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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