WB representatives become familiar with implementation of one of bank’s projects in Azerbaijan
Baku, Azerbaijan, Nov. 9
By Emin Aliyev - Trend: World Bank (WB) representatives became familiar with the implementation process of Integrated Solid Waste Management Project in Azerbaijan, WB Baku Office told Trend on Nov.8.
"WB review mission was in Baku from Nov.3 to Nov.8 and studied the course of the work within the project. Such missions are regular practice," the office said.
The mission's visit was related to the issues of the additional financing within the project, WB representative said.
In June 2013, the Board of Directors of the WB approved the allocation of additional financing in the amount of $47.1 million for this project.
According to the World Bank estimates, some 1.8 million tons of municipal solid waste is generated in Greater Baku per year. The Bank's experts suggest doubling of this figure in the next 20 years through the demographic growth and increasing incomes of the population from agglomeration.
The project was approved by the Board of Directors of the World Bank in June 2008. Its implementation began in 2009. The total cost of the project was $41.5 million, some $29.5 million of which fell to the WB loan and the remaining part was funded by the government of Azerbaijan.
The investment portfolio of the World Bank in Azerbaijan consists of 17 projects. The World Bank has financed as many as 54 projects worth of over $3 billion since the country's joining the bank.