Bilasuvar:The World Bank is considering providing a loan and technical assistance for the reconstruction of the Bilasuvar-Astara section of the M3 highway.
According to Azeri-Press news agency, the potential collaboration was discussed in a meeting between Anar Karimov, Azerbaijan’s First Deputy Minister of Finance, and Rolande Pryce, the World Bank Regional Director for the South Caucasus.
The discussion highlighted the completion of the ‘Regional Roads and Development’ project in March this year. As part of ongoing cooperation in the road sector, preparations are underway for the reconstruction project of the M3 highway’s Bilasuvar-Astara section, including financial and technical support from the World Bank.
Additionally, the meeting covered preparations for the World Bank’s ‘Finance for Jobs and Growth’ (FINGROW) project, which aims to establish partial credit guarantee and equity financing mechanisms. The World Bank expressed its willingness to support initiatives to enhance access to finance and develop transport infrastructure.