ADB to render technical assistance to determine needs of Azerbaijani railway sector

Photo: ADB to render technical assistance to determine needs of Azerbaijani railway sector  / Economy news

Azerbaijan, Baku, Oct. 6 / Trend A. Akhundov /

The Asian Development Bank (ADB) will provide the country with technical assistance to prepare the solid waste project within the business plan for operations in Azerbaijan in 2012-2014, the bank told Trend on Thursday.

The technical assistance to the amount of $800,000 is planned to be allocated in 2013.

"Moreover, it is planned to render methodological and technical assistance to the amount of $300,000 to support the state in expanding the private sector in 2013," the bank said.

In 2014, ADB will continue financing the projects in the sphere of transport and urban services. Technical assistance envisaged to prepare a project on railways will hit $1 million and will be used to determine the future needs of the sector in financing.

In September, ADB approved the technical assistance to examine the opportunities of financing Baku's urban transport to the amount of $925,000.

ADB approved the allocation of technical assistance in the amount of $225,000 to Azerbaijan in the frame of the second multitranche package (Multitranche Financing Facility - MFF) to develop the road network in the country (Second Road Network Development Program).
The business plan envisages technical assistance worth $ 3.25 million taking into account the technical assistance, approved in 2012.

"Earlier, it was planned to render technical assistance to prepare the bank's strategy in the country, but it was unnecessary as employees of the bank fulfill this work," the ADB said.
Azerbaijan is a member of ADB since 1999.

The ADB was established in 1966 and has 67 members. The headquarters of the bank is located in the capital of the Philippines, Manila. Azerbaijan became a member of the Asian Development Bank on December 22, 1999. The country's participation share in the bank's capital is 0.5 percent.

Japan and the US (31.2 per cent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent) are the ADB leading shareholders.

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