ECONOMY


WB APPROVES 3rd AZERBAIJAN HIGHWAY PROJECT

Baku, May 28 (AZERTAC). The World Bank’s Board of Executive Directors has approved the 3rd Highway Project on Azerbaijan, which amounts to a total of $356.15 million.

The WB approved $241.6 million for the project, of which $171.6 million will be provided by the International Bank for Reconstruction & Development and $70 million by the International Development Association. The rest of the funds will be covered by the Azerbaijani government.

The project envisages the expansion of the Baku-Shamakhi highway.

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