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Sovereign Wealth Funds Briefing - Categorized | Financials

State oil fund allocated over $430 mln for regional railway project

Posted on 26 July 2013

Some $435 million was allocated for the project on the construction of the Baku-Tbilisi-Kars railway from the start of financing of the project by Azerbaijan’s state oil fund SOFAZ until July 1, 2013, a statement posted on the Fund’s website said.
In the first half of 2013, SOFAZ allocated $3.7 million for the project. Last year, the figure made up $151.5 million. Funds were allocated to the Azerbaijani Ministry of Transport through the International Bank of Azerbaijan in accordance with the agreement signed by the governments of Azerbaijan and Georgia………………………………………..Full Article: Source


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