BAKU (Sputnik) — Azerbaijan will give Iran a credit for $500 million to boost the construction of the North-South transport corridor, Iranian Minister of Communication Mahmoud Vaezi said.
"The construction of the Rasht-Astara railway requires about a billion dollars of investment, $500 million of which will be allocated in the form of a loan by Azerbaijan. Azerbaijan’s credit will significantly accelerate the implementation of the North-South project," Vaezi said Friday, as quoted by the Azerbaijani Trend news agency.
The Qazvin-Rasht-Astara railway is part of the North-South Transport Corridor project, which aims to reduce the costs and the time of ship, rail and road deliveries to and from Russia, India, Iran, Azerbaijan and other countries located along the route.
