ECONOMY
ADB to lend $45m on road network upgrades in Azerbaijan
Baku, December 17 (AZERTAC). The Asian Development Bank (ADB) is ready to offer the $45 million worth of the new tranche of multi-tranche financing facility (MFF) Road Network Development Program.
According to head of the ADB office in Azerbaijan Olly Norojono, the tranche will be spent on construction of four bridges and locally important roads in the city of Ganja.
The ADB has conducted an appraisal of the Ganja beltway construction project. The bank has set aside $55 million in a loan.
ADB has approved a USD 500 million loan for road upgrades in Azerbaijan in 2008.
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