Islamic Development Bank discloses time-frame for big project implementation in Azerbaijan

Business Materials 17 April 2019 12:59 (UTC +04:00)

Baku, Azerbaijan, April 17

By Sara Israfilbayova – Trend:

The Islamic Development Bank (IDB) intends to implement a project of providing six Azerbaijani districts with water till the end of 2020, the bank told Trend on April 17.

"The implementation of the project depends on a number of factors such as climatic conditions, the process of tenders and other factors,” the bank said. “However, the project is expected to be implemented till late 2020."

“The additional funds are not expected to be allocated and the project may be implemented within the approved budget,” the bank added. “No appeals concerning the new projects have been received from the Azerbaijani government yet.”

Azerbaijan joined the Islamic Development Bank in 1992. During this period, the bank's portfolio amounted to about $1.2 billion. The bank is mainly interested in such sectors in Azerbaijan as energy, irrigation, road construction and agriculture.


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