The European Bank for Reconstruction & Development (EBRD) has given a loan to the largest privately-owned passenger bus operator in the capital of Azerbaijan.
The EBRD reports that the loan of up to €6 million (in Azeri Manat equivalent) was extended to Khaliq Faiqoglu LLC for modernisation of this private bus operator’s services.
“The project will support the procurement of 35 new low-floor diesel buses which will be fully compliant with the EU Euro 6 emission standard for light passenger and commercial vehicles. These will replace old buses and reduce the company’s annual CO2 emissions by 2,853 tons,” the EBRD said in a statement
