ADB allocated grant on alternative sources of electrical power

Business Materials 23 December 2005 14:47 (UTC +04:00)

The Board of Directors of the Asian Bank of Development (ADB) endorsed allocation of technical assistance in the amount of $700,000 to Azerbaijan for developing of the project on renewable sources of electrical power, the government told Trend. Signing of the grant agreement is expected shortly.

The project’s cost is approximately $20 million, from which $10 million will be allocated on the privileged conditions to the country. The project’s main goal is to use windmills of micro-hydraulic electrical power stations for creating conditions for the regions’ rural activities.