New Delhi: The Asian Development Bank (ADB) extended a $47 million loan to support Azerbaijan digitalize its railway system, enhancing the safety, reliability, and efficiency of the country’s railway networks.
The project will be implemented by Azerbaijan Railways Closed Joint Stock Company (ADY), and is expected to improve the safety, reliability, and efficiency of the country’s railway networks, an ADB press release stated.
“Digitalization is critical to enhancing operational efficiency, improving competitiveness, and fully leveraging Azerbaijan’s role in regional transit corridors,” said ADB Transport Specialist Nanyan Zhou.
The funds will be used to digitalize key processes in ADY’s operations, including cargo operations, maintenance and repair of assets, and investment planning, the statement said, adding that the project will also develop a system for clients to access information, including shipment pricing and tax calculations. According to the release, the digitalization of ADY’s corporate functions such as budgeting and contract management will also be supported, through improved operational efficiency and streamlined data management.
“Despite the country’s strategic location and the government’s focus on infrastructure development, Azerbaijan’s railway sector has struggled to maintain its market share due to aging infrastructure and limited digitalization,” the statement said.
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