Azerbaijan, Baku, 21 January / Trend corr. I.Khalilova / Azerbaijan received an official note from Japan to finance the project directed to improve the water and sewerage systems in Azerbaijan at a sum of $300, the Azerbaijani Cabinet of Ministers reported.
The Japanese International Cooperation Bank (JBIC) is prepared to allocate the credits on three conditions. Part of the project directed to restore of water system will be financed at a rate of 1.3% yearly, the sewerage system at 0.4% and consultative services and training at 0.1%yearly. The funds will be allocated for 40 years on privilege conditions of ten years. "We expect to exchange communication on 26 or 27 March, and thereafter sign the credit agreements," the state reports.
The feasibility study of the project has been developed by the consortium of Tokio Engineering/ASPI on the six cities of Azerbaijan, namely, Shamakha, Salyan, Neftchala, Barda, Guba and Ali-Bayramli, but the bank agreed to expand the project to 10.
The construction of the project commence in October.