CREDIT AGREEMENT SIGNED
On behalf of the government of Azerbaijan, minister of transport Ziya Mammadov and from the European Bank for Reconstruction and Development - the head of the Azerbaijan representation of this financial structure Raymond Convey signed the agreement. According to the new credit agreement, connected to the Baku-Alat-Yevlakh-Girmizi Kerpu, 115 kilometers of the road from Baku up to border of Georgia will receive the first technical category, other part - the second, and will be restored in 2006-2007.
After ceremony of signing, minister of transport Ziya Mammadov informed, that the works directed on restoration of the Great Silk Road, basis of which was founded by our national leader Heydar Aliyev, consistently proceed.
The negotiations spent with the European Bank for Reconstruction and Development on behalf of the President of Azerbaijan of Ilham Aliyev, have successfully ended. The sum of the next credit allocated for the period of fifteen years, makes 41 million dollars. On this highway with the extent of 85 kilometers stipulates also construction and restoration of Hajigabul-Kurdemir ring way.
It has been marked, that negotiations are underway in connection with lining of parts of road Kurdemir-Ujar, Yevlakh and Gazakh -border with Georgia. Till 2007 in this road, as a whole, 250 million dollars will be invested in this road.
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