The Azerbaijan State News Agency

ECONOMY

WB TO LOAN $ 450 MLN TO AZERBAIJANI RAILWAYS JSC

Baku, October 14 (AZERTAC). The World Bank will loan $ 450mln to Azerbaijani Railways JSC to develop the railway transport in the country, Chairman of the joint stock company Arif Asgarov said.

The funds will be spent for replacement of the energy system in the railroad, modernization of the communication and signal injections and delivery of 50 new AC electric locomotives.

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