Azerbaijan, Baku, October 13 / Trend E. Ismayilov /
The loan to the amount of $450 million which 'Azerbaijani Railway' CJSC plans to get from WB will be spent for change of energy system, modernization of communication, signal system, purchase of 50 electric locomotives operating on alternating current, head of CJSC Arif Askerov said.
"The inquiry concerning allocation of the loan to the amount of $450 million from WB will be solved. These funds will be distributed in three directions," Askerov said.
He said that operations are being held with Czech bank now. The loan to the amount of €215 million is planned to be received from this bank too. The loan will be spent for development of roads.
"These funds will be mainly spent for development of roads, recovery of road infrastructure on Baku-Boyuk-Kesik plot," Askerov said.