Azerbaijan, WB ink $140M loan deal

Azerbaijan's Azeravtoyol OJSC and the World Bank (WB) signed an agreement for allocation of a $140 million loan to complete the reconstruction of a highway network, including the Baku-Shamakhi road, Azeravtoyol said in a message Apr. 7.

The deal on the 'Azerbaijan Highway 3 Additional Financing' project was signed by the Azeravtoyol Chairman Saleh Mammadov and the WB Baku Office Head Larisa Leshchenko.

Azerbaijan joined the WB in 1992. Throughout their cooperation period, WB has allocated over $3 billion to Azerbaijan for more than 60 projects.

Source: Trend