Azerbaijan Submits Projects to Islamic Bank of Development to Finance Within Framework of Budget for 2007 Fiscal Year
Azerbaijan, Baku, 6 March / Trend corr. I.Khalilova / The Azerbaijani Government submitted short description of technical-economic index of two projects on restoration of water systems in three small regions (Agjabadi, Balakan and Beylagan) and reconstruction of road Bahram-Tapa to the Islamic Bank of Development (IBD). The projects are expected to be financed by the Bank within the framework of budget of 2007 fiscal year, Cabinet of Ministers reported.
The technical documents of the projects were developed by Azersu and Azerautoyolservice joint-stock companies.
These two projects are envisaged in the new program of cooperation for 2007-2009. There are plans to complete the project in April 2008.
The government is planning to allocate three projects on privilege, commercial and technical assistance. The projects are directed at restoring the water supply system in 6 small regions [Dashkasan, Gadabay, Davachi, Agjabadi, Balakan and Beylagan], the reconstruction of the Bahram-Tapa road and the development of technical economic bases for the reconstruction of the Mil-Karabakh collector.
Only four projects financed by the bank were on commerce conditions to the amount of $61mln in Azerbaijan. The projects were directed for the construction of the Alat-Kazimahammad road, Mingachevir electric power station, Ujar-Yevlakh road, and Khachmax substation.