An agreement signed in Tbilisi on Kars-Tbilisi-Baku railway constructionFebruary 8, 2007 - 13:30 AMT PanARMENIAN.Net - Georgian and Azeri Presidents Mikheil Saakashvili and Ilham Aliev, as well as Turkish premier Recep Tayyip Erdogan signed an agreement on Kars-Akhalkalaki-Tbilisi-Baku railway construction in Tbilisi February 7. The total cost of the project is $600 million. The Azeri side will assign Georgia $300 million on credit for rehabilitation and construction works of Georgian part of the railway. The maturity date of the credit is 25 years with possibility of prolongation, crediting rate is 1% annually. The Georgian government hopes such an important infrastructure project like BTK will turn the country into a "bridge between Europe and Asia". Construction works will launch already this year. The agreement on BTK has raised serious concerns and in Yerevan, since the railway will bypass Armenia, Russian Media reports. The American Congress has banned American banks to finance construction of this project, if it bypasses Armenia. Inflexibility of Washington's stance in this issue recently also confirmed U.S. Deputy Assistant Secretary of State Matthew Bryza , who is considered to be Georgia's "friend and lobbyist". Particularly he said that if Georgia, Azerbaijan and Turkey want to construct a railway bypassing Armenia the United States cannot hinder them but will not assist them too. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |