ADB to mull next tranche within investment program on water supply in Azerbaijan

Business Materials 14 June 2016 15:43 (UTC +04:00)

Baku, Azerbaijan, June 14

By Azad Hasanli - Trend:

Board of Directors of the Asian Development Bank (ADB) plans to discuss in 2016 the allocation of the next tranche within the "Azerbaijan: Water Supply and Sanitation Investment Program", Nariman Mannapbekov, ADB country director in Azerbaijan, told reporters in Baku.

Mannapbekov spoke about the loan worth $75 million to improve water supply and the construction of sewerage systems in Azerbaijan's Aghdash and Beylagan districts.

The investment program on water supply and sanitation with total cost of $800 million was approved by the ADB Board of Directors in 2009. The first loan worth $75 million under the program was allocated for the reconstruction of water supply and sewerage infrastructure in the towns of Goychay and Nakhchivan, and the second tranche worth $300 million - for the works on reconstruction and upgrade of infrastructure and services in Aghdash, Beylagan, Goychay and Nakhchivan. The third tranche worth $150 million was envisaged to improve the water supply and sewerage network in Aghjabedi and Nakhchivan.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is owned by 67 members - 48 from the region.