Azerbaijan may extend additional loan to Georgia for Baku-Tbilisi-Kars project

Samir Valiyev, General Director of IBA-Georgia, told that as per the final intergovernmental agreement on Baku-Tbilisi- Kars railway link.

Azerbaijan is extending a $200 million loan to Georgia's Marabda-Karsi Railroad LLC for 25 years at 1% interest rate annually, APA reports.

"The first $5 million tranche will soon be allowed. It is planned to lend $50 million for 2007. It is not ruled out that the amount will be increased. The assessment of the project was carried out a few years ago and the global prices went up. An additional document can be signed between the governments for increase of the loan amount," he concluded.