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Islamic Development Bank to allocate $97 million for construction of main irrigation canal from Giz Galasi reservoir in Garabagh

14 November 2024 16:55 (UTC +04:00)

The Islamic Development Bank (IDB) has allocated the first loan for the construction of a main irrigation canal from the Giz Galasi reservoir, the President of the Islamic Development Bank, Muhammad Al-Jasir said, APA reports.

He said that the Islamic Development Bank (IDB) is proud to sign the first loan for the construction of a main irrigation canal from the Giz Galasi reservoir in Garabagh: "We, as the Islamic Development Bank, have signed the first loan for the from Giz Galasi reservoir project in Grabagh, which will serve approximately 1.6 million people. This is a very important development project. We are very excited, very positive. We will allocate approximately $97 million for the implementation of the water reservoir project in Garabagh. The main irrigation canal, which is 52 kilometers long, will serve approximately 1.6 million people. This project will transform Garabagh.

I look forward to visiting Garabagh once the project is complete. I assure President Ilham Aliyev that we look forward to expanding our presence here. We have the capacity to expand the number of projects we can finance. We look forward to expanding the relationship between the Islamic Development Bank and Azerbaijan in many areas of economic development."