October 26, 2006 - 17:43 AMT
Baku and Ankara to Credit Georgia for Implementing Kars-Akhalkalaki-Baku Rail Project
Azerbaijan and Turkey plan to allocate $200 million to Georgia as a long-term credit for implementation of Baku-Tbilisi-Akhalkalaki-Kars railway project and restoration of Marabda-Akhalkalaki link. Georgia will pay off the debt at the expense of the income from operating of the railway within 10-12 years. The laying of the railway will cost some $422 million. Options for financing the project are being calculated at present. Ministers of Transport of Azerbaijan, Georgia and Turkey will discuss the final version in the near future, reports APA.