Baku, Fineko/abc.az. The Azerbaijani government signs the loan agreement with the Czech Export Bank (CEB) on reconstruction of roads and public road system.

Deputy Chairman of Azerbaijan Railways CJSC (ADY) Gurban Nazirov said that at present the loan agreement with CEB on attraction of 215 million euros has already been prepared.

“These funds will be directed to reconstruction of roads and public road system within the framework of Rail Trade and Transport Facilitation Project in the direction of Baku – Beyuk Kesik.

In May, 2010, we hope to receive these funds, which will be provided for the term of 8 years under the state guarantee,” G. Nazirov told.

Let’s note that since March 15 the agreement between the Azerbaijani government and the World Bank (WB) has been come into force. In December, 2009, the agreement was signed under Rail Trade and Transport Facilitation Project. The Bank gave loan  to the sum of  $450 million for reforming of Azerbaijani railway system .

The project is a part of government program for the railway development. The project’s worth is $795 million.

17.03.2010 14:48