Bank Of Baku

Second stage of EC Energy Reform Support Programme in Azerbaijan starts

Second stage of EC Energy Reform Support Programme in Azerbaijan starts
# 12 April 2012 09:41 (UTC +04:00)
Baku. Ali Ahmedov – APA-Economics. Today, an event on start of the second stage of EC’s €13 mln allocation for Energy Reform Support Programme in Azerbaijan was held in Baku, According to APA-Economics, it was informed about the works within that program, acts plan and future steps.

Note that, Acts Plan includes development of strategy appropriate to market economy principles in energy sector, increase of useful usage of alternative and renewable energy in the country, conforming of legislation on alternative and renewable energy sources to EU legislation and etc.

Note that, the down payment for realization of Program made €3 mln and was paid at the end of 2010, second payment was implemented in 2011 and third €7 mln payment will be paid in 2012
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THE OPERATION IS BEING PERFORMED