ADB gave $70 million to finance projects in Azerbaijan in 2011 (PHOTO)
Azerbaijan, Baku, Dec 9 /Trend N.Ismayilova/
The Asian Development Bank (ADB) gave around $23 million for funding transport projects in Azerbaijan, in 2011, the head of ADB representation Ollie Noroyono said on Friday.
"These funds have been spent mainly on the construction of the Ganja bypass road, the Masalli-Astara highway and secondary roads. It is expected that by the end of December 2011 the ADB will approve the third tranche amounting to $200 million to continue construction of the Masalli-Astara highway. Construction is expected to be completed by 2013 and the Ganja bypass by mid-2012," Mr Noroyono said.
He added that, about $11 million has been allocated for projects in the water and sanitation sectors by the ADB during 2011.
"The funds have been spent on projects in water and sanitation sector in Nakhchivan and Goychay. Projects in these cities are made as part of the investment programme for water and sanitation amounting to $600 million," he said.
The second tranche amounting to $300 million of multitranche funding will be approved by Office of the ADB at the end of December.
"The loan will be allocated for the construction of water and sanitation systems in Nakhchivan, Goychay, Agdash and Beylagan" he said.
Mr Noroyno noted that ADB has allocated about $35 million for the project to renew power lines in the energy sector. The project sees the construction of a two- contour 220 kilovolt power transmission line from Mingachevir running to 280 km and from the Shimal power station to the village of Govsan, 97 kilometres, as well as the construction of five substations. The project will be completed in 2012.
"The ADB has confirmed a business plan for operations in Azerbaijan in the middle of 2011.
The ADB will allocate about $1 billion to projects in Azerbaijan according the business plan for 2011-2013" Mr Noroyono concluded.