Major railway projects in Azerbaijan mainly implemented through state funds, railway boss says

In Azerbaijan, major infrastructure projects in the railway sector are mainly implemented through state investments, Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC (ADY), said at an event titled "Reliable Solutions for Accelerating Railway Operations" within the framework of COP29 in Baku.

Report quotes him as saying loans from international financial institutions are also attracted for the development of railway infrastructure: "This requires financial stability of the company, transparent operations, reporting, and state guarantees."

Rustamov noted that ADY effectively cooperates with the World Bank and the Asian Development Bank in attracting funds for railway infrastructure renovation.

Representatives from various countries, international organizations, and international financial institutions also spoke at the event. The main discussion topics were the railway transport's contribution to reducing greenhouse emissions and urban mobility, and the importance of further railway infrastructure development.

Reports from the World Bank and the Multilateral Investment Guarantee Agency (MIGA) were also presented, highlighting the importance of railway financing and the positive results achieved in such projects in partner countries.