EBRD going to participate in Kars-Tbilisi-Baku project

May 17, 2007 - 19:06 AMT
PanARMENIAN.Net - The European Bank for Reconstruction and Development (EBRD) plans to participate in the construction of the Kars-Akhalkalaki-Tbilisi-Baku railway project, Azerbaijan's Economic Development Minister Heydar Babaev stated, noting that if talks are successful, the corresponding document may be signed in Kazan May 20-21.



The Minister refused to clarify details of EBRD's participation, if it will be in the form of assigning financial means or in other forms. "It is well-known that we have solved the financial side of the project. The important thing is that EBRD will participate in the project," Babaev underscored, Day.az reports.



The U.S. Congress refused to finance the Kars-Akhalkalaki-Tbilisi-Baku railway project, which will bypass Armenia. The European Union also keeps to similar viewpoint.
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