Azerbaijan, Baku, March 15 / Trend A. Akhundov /
The Board of Directors of the World Bank (WB), approved additional funding for the Integrated Solid Waste Management Project on May 30, 2013, the announcement of the bank posted on its website on Friday says.
The amount of the additional funding that will be allocated from the International Bank for Reconstruction and Development (IBRD, World Bank structural unit) is $ 40 million. Most of the additional funding will be allocated for the reconstruction of a solid waste landfill in Balakhani (component B), reimbursement of the additional costs for project management (component A), as well as works on technical preparation for future investments in this sector (component E).
The project closes on September 30, 2013, but for completing of works under the additional financing required extension of the project has to be prolonged for three years, until September 30, 2016.
The project was approved by the Board of Directors of the World Bank in June 2008. Its implementation started in 2009. The total project cost constitutes $41.5 million including $ 29.5 million of WB credit and the rest funded by the government of Azerbaijan. The credit is granted for a 20-year term.
Project activities are being implemented in the following areas: institutional reforms, capacity development and administration, regulation and management of Balakhani solid waste landfill as well as closing and management of some other junk yards, purchase of equipment for solid waste collection, preparation of an investment plan for the period after the completion of the project.