Baku, Azerbaijan, July 14
By Maksim Tsurkov – Trend:
Board of Directors of the European Bank for Reconstruction and Development (EBRD) plans to approve a loan on November 1 for Azerbaijan’s Tamiz Shahar JSC, established to improve the ecological condition of Baku city, says an EBRD message posted on its website July 14.
Currently, the bank is reviewing the project’s concept, according to the message.
A loan in the amount of up to $39 million will be allocated for financing the domestic waste management in Baku and adjacent settlements on the Absheron peninsula (“Big Baku”), says the message.
The funds will be used to finance the construction of two transfer stations and sorting facilities, which will allow optimizing the transportation of waste products and reducing the volume of their utilization, according to the message.
The proposed project is consistent with the EBRD’s “Transition to a Green Economy” approach by reducing carbon dioxide emissions and reducing the overall volume of waste transportation, says the message.
The project’s goal is to improve the efficiency of solid domestic waste management in big Baku.
The project will bring significant environmental benefits and operational efficiency, according to the message.
Total cost of the project is $39 million. In total, the EBRD, together with the technical assistance, will allocate $40.3 million for the project.
Azerbaijan has been cooperating with the EBRD since 1992.
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