ADB bank to help Azerbaijan on more road projects

The Asian Development Bank (ADB) will lend Azerbaijan US$100 million of the $133 million that the country estimates it will need for road development in 2015-2017. The money is part of the ADB’s $250 million to Azerbaijan for development of energy and transportation infrastructure. Total cost of all the work is around $332 million in total. Within this amount, ADB has earmarked $40 million for development of renewable energy sources. World Highways reported in November that Azerbaijan’s minister of tr
April 14, 2015 Read time: 1 min
The 943 Asian Development Bank (ADB) will lend Azerbaijan US$100 million of the $133 million that the country estimates it will need for road development in 2015-2017.

The money is part of the ADB’s $250 million to Azerbaijan for development of energy and transportation infrastructure. Total cost of all the work is around $332 million in total. Within this amount, ADB has earmarked $40 million for development of renewable energy sources.

3260 World Highways reported in November that Azerbaijan’s minister of transport, Ziya Mamedov, said construction and renovation of all trunk roads of international importance will be completed by 2017.

Around $2.86 billion will be needed for development of Azerbaijan's transport sector in 2015 as a part of a state investment programme, he said.
Finance & Funding

For more information on companies in this article

Related Content

  • ADB extends US$252mn loan to fund road construction in five India states
    April 9, 2013
    Philippines-based Asian Development Bank (ADB) has agreed to loan the Indian government US$252 million for key road construction projects. The 25-year loan has a grace period of five years, a commitment charge of 0.15% per annum, and the interest rate will be determined on ADB’s LIBOR-based lending facility. The loan will be used to finance the construction of 3,461km of all-weather rural roads in West Bengal, Odisha, Madhya Pradesh, Chhattisgarh and Assam with the first phase scheduled to complete in Decem
    Read More
  • Azerbaijan invests in road infrastructure
    October 6, 2014
    Azerbaijan will see a major investment in its road infrastructure. The Asian Development Bank (ADB) is supplying funding worth US$350 million that will be targeted at road construction in Azerbaijan. The funding will be for the 2015-2017 period. Meanwhile a further $752 million from the ADB will be used to develop other aspects of infrastructure in Azerbaijan such as general transportation and utilities over the same period.
    Read More
  • Senior ADB figure urges governments to act on sustainable transport
    September 27, 2013
    Multilateral development banks (MDB) are determined to do all they can to encourage governments of developing countries meet key sustainable transport targets, according to a senior figure at one of the world’s biggest MDB’s. Guy Woodford reports Tyrrell Duncan, Asian Development Bank’s (ADB) director of Transport and Communications Division, East Asia has been at the forefront of MDB efforts to enhance sustainable transport and road safety in developing countries. Speaking during a break in talks at the In
    Read More
  • Central Asia’s need for improved transport infrastructure
    October 5, 2018
    Central Asia has a need for improved transport infrastructure to help develop economies - Gordon Feller reports
    Read More

Highlighted Content