Record Funding in Public Transport History: $180 Million Loan Allocated to the Baku Metro

A major milestone has been reached in the expansion of the Baku Metro. Loan agreements worth $180 million have been signed between Baku Metro CJSC, a company within AZCON Holding, and the Asian Infrastructure Investment Bank (AIIB) to finance the first phase of the Baku Metro Expansion Project.

This is not only the largest international loan ever allocated to Azerbaijan’s public transport sector, but also one of the most significant financing projects in the country’s transport infrastructure development in recent years.

The signed agreements will enable the implementation of the first phase of a long-term program aimed at modernizing and expanding the Baku Metro. The project includes the continuation of construction works at the Darnagul and Khojasan electric depots, as well as the comprehensive modernization of 10 stations on the Green Line.

To secure the loan, extensive preparatory work was carried out in accordance with the requirements of international financial institutions. All technical documentation for the project was completed, comprehensive environmental and social assessments were conducted, and a feasibility study was prepared. As a result, the project was approved by the AIIB Board of Directors. This decision confirms that the project fully complies with international standards and the principles of transparency and sustainability.

The continuation of construction at the Darnagul and Khojasan electric depots marks the beginning of a broader metro expansion program jointly financed by the AIIB and the Asian Development Bank (ADB). This cooperation is another indication of the confidence international financial institutions place in Azerbaijan’s strategic transport projects.

It is worth noting that the Baku Metro, which has been operating since 1967, currently consists of 3 lines, 27 stations, and 40.7 kilometers of operational track, making it one of the capital city's primary public transportation systems. In 2024, the metro carried 230 million passengers, and on September 16, a historic record was set with more than 898,000 passengers transported in a single day. Given the current growth trend, daily ridership is projected to reach approximately 1 million passengers by 2035.

The expansion of the Baku Metro is being carried out within the framework of the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025–2030, approved by a Presidential Decree of the Republic of Azerbaijan. Under the program, the metro network is expected to expand by approximately 20 kilometers of new track and 10 new stations by 2030, with total investments of nearly $2.5 billion allocated in this direction.

The implementation of the project will provide residents with safer, more comfortable, and more accessible public transportation options. Encouraging a shift from private vehicles to metro travel, it will also help reduce transport-related emissions and make a significant contribution to fulfilling Azerbaijan’s climate commitments.