ADB to provide technical assistance to explore financing possibilities for Baku urban transport

Azerbaijan, Baku, Aug 24 /Trend I.Khalilova/ The Asian Development Bank (ADB) plans to provide technical assistance to Azerbaijan to study financing possibilities for Baku urban transport this year, the ADB told Trend on Friday. "In particular, the facilities of ground transport will be explored, and the bank is interested in supporting the development of the Baku Metro," the bank said. Technical assistance will vary between $0.5-1 million. The source said the investment program was included under the partnership project with Azerbaijan for over the next three years. According to the previously approved business plan, the negotiations will begin in 2013 and the ADB plans to allocate $300 million to finance the investment program. "The necessary funding for the development of urban transport of the capital through lending by the ADB," the bank said. As previously reported, the ADB plans to apply a sustainable development approach for the road sector. The ADB will invest $3-4 billion every year in the development of sustainable transport in Asia and the Pacific in accordance with IST. Do you have any feedback? Contact our journalist at agency@trend.az