The program will provide project financing for the rehabilitation of the track and structure of the Sumgayit–Yalama rail line—a key link in the North–South Railway Corridor within the CAREC network.
The program will improve rail network serviceability (the project loan); and support the railway sector development reforms in management autonomy and governance, financial restructuring, reporting and control, operational efficiency, and corporate restructuring (the policy-based loan).
- Governance, and management and financial autonomy of Azerbaijan Railways Closed Joint Stock Company (ADY) enhanced
- Financial restructuring of ADY's debt liabilities effectively conducted
- Financial and management control, efficiency and reporting at ADY enhanced
- Operational efficiency enhanced and corporate restructuring effectively conducted
- Infrastructure of the Sumgayit–Yalama rail line improved
|Funding Agency||Amount (USD millions)||Notes|
|Asian Development Bank||400|
|Agence Francaise de Developpement||175|
|Government of Azerbaijan||75|