BAKU, Azerbaijan, September 28. Chairman of Azerbaijani Railways Rovshan Rustamov and Chief Infrastructure Banker of the European Bank for Reconstruction and Development (EBRD) Elena Gordeeva have discussed the possibilities for expanding cooperation in the modernization of railway infrastructure, Trend reports.
Rovshan Rustamov emphasized the importance of the technical consulting project, which was implemented with the financial support of the bank from 2017 to 2021, aimed at optimizing the electrical supply and energy efficiency of railways.
In turn, the bank's representative, Elena Gordeeva, underscored the bank's readiness to finance infrastructure projects of Azerbaijani Railways in the future.
As of July 31, 2023, the project credit portfolio of the EBRD in Azerbaijan was valued at 787 million euros. This credit portfolio is intended for the implementation of 31 projects. Furthermore, the bank forecasts that the real gross domestic product (GDP) in Azerbaijan will grow by 1.5 percent this year compared to the previous year.
