Russia to provide 1.3 billion euros loan for Resht-Astara railway project

An interstate loan worth €1.3 billion is allocated for the implementation of the project to build the Resht-Astara railway section.

The total cost of the project is €1.6 billion, Russian Deputy Prime Minister Alexander Novak told TASS.

"An interstate loan of €1.3 billion is allocated for the implementation of this project, while the total cost of the project is €1.6 billion," he said.

According to him, the Russian share in the interstate loan is 85 per cent

"[The loan] is repayable during the payback period of this project," Novak added.