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Azerbaijan : FOURTH Tranche of MFF projected by ADB.

The final fourth tranche of multi-tranche financing facility (MFF) Road Network Development Program has been put forward by Asian Development Bank (ADB) to Azerbaijan.

"The tranche size will reach $45 million as an ADB loan, the Bank stated.

Previously the Bank delayed authorization of the fourth tranche of MFF of 2007 by the Board of Directors from 22 June 2012 for 22 June 2013.

The latest endorsement for this $500 million program occurred on 14 December 2011, when the $200 million third tranche was certified.

Simultaneously on 23 April 2013 the Azerbaijan Ministry of Transport and the ADB inked a loan contract within Road Network Development Program, which the Bank s Board certified on 25 October 2012.

The lending amount in the program will be $500 million. Funding will be offered in two identical tranches of $250 million each. The first tranche was officially agreed with the program and the second tranche authorization is planned for 13 October 2014.

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Publication:Mena Report
Date:Oct 29, 2013
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