Railway Sector Development Program

Summary

The program will provide project financing for the rehabilitation of the track and structure of the Sumgayit–Yalama rail line—a key link in the North–South Railway Corridor within the CAREC network.

Expected Outcome

The program will improve rail network serviceability (the project loan); and support the railway sector development reforms in management autonomy and governance, financial restructuring, reporting and control, operational efficiency, and corporate restructuring (the policy-based loan).

Expected Outputs

• Governance, and management and financial autonomy of Azerbaijan Railways Closed Joint Stock Company (ADY) enhanced
• Financial restructuring of ADY's debt liabilities effectively conducted
• Financial and management control, efficiency and reporting at ADY enhanced
• Operational efficiency enhanced and corporate restructuring effectively conducted
• Infrastructure of the Sumgayit–Yalama rail line improved