Asian Development Bank plans to lend Azerbaijan $325 mln for electrification of railway up to Russian border

BAKU. Dec 17 (Interfax) - The Asian Development Bank (ADB) is planning to lend Azerbaijan $325 million in order to electrify and modernize the signaling and telecommunications system of the railway from Bilajary to Yalama on the border with Russia, the bank told Interfax.

"This railway is part of the North-South international transport corridor, which is used for export and import shipments," the bank representative said.

He said that the project aimed to fully equip the railway with electrification infrastructure, signaling systems and telecommunications systems - rail network communications systems, on-board electronic devices and fiber-optic and wireless communications systems.

The ADB should confirm the funding for the project in 2026.

Azerbaijan has been a member of the ADB since 1999. In this time, the bank has provided Azerbaijan with $5.5 billion for implementing projects. In November, the bank said that it was prepared to loan Azerbaijan up to $2.5 billion before 2029 to support projects in renewable energy, transport, water supply and the private sector.