ADB OKs multi-million loan to country

The Asian Development Bank (ADB) approved the fourth tranche worth $75 million with the framework of water supply and sanitation investment program in Azerbaijan, the Bank reported.

The ADB is helping Azerbaijan improve water and sanitation services in towns and semi-urban areas surrounding the capital Baku.

The first three tranches of the multi-tranche financing facility (MFF) financed construction of water networks in Goychay, Agdash and Beylagan, Agjebedi and Nakhchivan.

The funds of the fourth tranche will be used for the completion of works implemented in Agdash and Beylagan towns. Particularly, the funds will be spent for the provision of water supply and sewerage in Agdash as well as construction of water treatment systems in Agdash and Beylagan.

The total worth of the project is estimated at $100 million. The share of Azerbaijani government in the project is $25 million.

The investment program on water supply and sanitation worth $300 million was approved by the ADB Board of directors in 2009.

The project is expected to improve the quality and coverage of urban services in secondary towns and urban areas surrounding Baku. It will benefit approximately 500,000 residents.

Azerbaijan became a member of ADB in 1999 while the country’s share in the bank’s capital amounts to 0.5 percent.

Projects of ADB in Azerbaijan, which have proposed status, include solid waste management project for intermediary cities, Shah Deniz stage 2 investment plan, Shah Deniz gas field expansion program, renewable energy development project, railway sector development program.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is owned by 67 members - 48 from the region.