Minister: Over $17 billion to be allocated for renewal of energy and water infrastructure

Business Materials 4 November 2013 17:42 (UTC +04:00)

Azerbaijan, Baku, November 4/Trend, A. Akhundov/

The improvement of the power supply network in Azerbaijan will require additional 3.5-4 billion manat, Azerbaijan's Finance Minister Samir Sharifov said on Monday during the discussion of the draft state and consolidated budget of Azerbaijan for 2014 at the expanded meeting of the five parliamentary committees on security issues, natural resources, energy and environment.

According to the minister, the works will cover all regions of the country and will include the replacement of power transmission lines, construction of substations, transformers an so on.

In addition, according to the minister,10 billion manat will be devoted to the resolution of water supply problems.

"One part of these funds is planned to be allocated from the state budget and another part is planned to be provided through the loans of international financial institutions such as the World Bank, Asian Development Bank, Islamic Development Bank. The government already holds negotiations with them. Of course, we will not be able to ensure the financing in such volumes in one year," Sharifov said.

In addition, according to the minister, the important task put by the head of the state, is the construction of township and rural roads. According to the minister, this requires around 200 million manat.

The official exchange rate on November 4 is 0.7844 AZN/USD.