EBRD cancels one of projects in Azerbaijan
Baku, Azerbaijan, Dec. 27
By Sara Israfilbayova – Trend:
The European Bank for Reconstruction and Development (EBRD) canceled the Clean City Project, which was planned to be implemented in Azerbaijan, the bank told Trend.
EBRD planned to allocate a loan worth up to $39 million to Azerbaijan’s Tamiz Shahar OJSC to finance investments in the management of municipal solid waste in Baku and adjacent territories on the Absheron Peninsula.
The project envisaged the construction of two transfer stations [temporary waste storage area] and waste sorting plants to optimize the transportation of waste and increase waste disposal efficiency. The total cost of the project was $40.3 million.
Azerbaijan has been cooperating with EBRD since 1992. Since then, the bank has invested more than $2.8 billion in 161 projects in Azerbaijan’s financial, corporate, infrastructure and energy sectors.
At the same time, 68 percent of investments accounts for the private sector.
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