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ADB to allocate $950 mln to Azerbaijan

05 August 2011 11:55 (UTC +04:00)

According to ADB Baku office, ADB plans to allocate $340 mln in 2011 (including reserve loans), $355 mln in 2012, $250 mln in 2013. At the same time, ADB will grant $2 mln technical assistance for fulfilment of business-plan.

According to business-plan ADB will continue to support the transport, energy, water supply, canalization and other service sectors. ADB will allocate new loans to the financing of Masalli-Astara road, at the same time, the bank considers the financing of reconstruction projects of the highway between Baku and Georgia. This highway is considered as the main corridor of CAREC Program.

Besides, ADBâ€™s investment program on energy sector considers the strengthening and renewing of national distribution network, increase of reliability of on energy provision, reduction of losses during distribution, improvement of financial, management and operation spheres of energy sector.

At the same time, ADB also intends to review the financing of intracity transport projects.

Note that, ADB plans to develop the new partnership strategy on Azerbaijan in 2012.

Remind that, Azerbaijan has been in cooperation with ADB since 1999.