TODAY.AZ / Business

German KfW bank to allocate financial aid to Azerbaijan's railway locomotive park

14 April 2008 [12:18] - TODAY.AZ
The German Development Bank is ready to allocate financial aid for modernization of the locomotive park of the Azerbaijan State Railroad, said a source from the KfW Baku representation.
"On the whole, the cost of the State Program for Azerbaijan's railway development is estimated at $1,500,000,000. We are ready to allocate funds along with other donor-partners. The amount of financial aid to be allocated by KfW has not yet been defined. It will be defined following talks with Azerbaijan.

It should be noted that KfW is ready to assist to the development of the whole transport sector of Azerbaijan. The State Program for Railway Development covers 2008-2012.


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