ADB’s first energy project targets application of alternative energy sources

Business Materials 10 December 2005 14:55 (UTC +04:00)

The Asian Development Bank (ADB) is going to approve approximately $800,000 grant for the development of the first energy project, Mettiew Westfall, the head of the Baku Office of the ADB told Trend. The key task of the project is to ensure energy supply to the regions.

“We think how better assist the regions of the country suffering from access to energy,” Westfall. At present it is dealt with their provision with alternative energy sources through use of wind mills, mini-hydraulic and sun energy. It is needed for support to agriculture in regions. The ADB plans to approve $20-30m in 2006 for the implementation of the project.

Azerbaijan has recently joined the regional project on technical assistance of the ADB to �Recoverable energy, energy efficiency, and research into reduction of hotbeds.

PREGA, which is financed by Dutch government and managed by the ADB, is designed for $4.5m to benefit for 12 member-banks (Central Asian, China and Mongolia).