Asian Bank to increase in 2007 volume of crediting in Azerbaijan almost by 30%
The Asian Development Bank (ADB) is going to increase its operations in Azerbaijan through funding the roads and water supply systems construction projects, Trend reports citing the bank report. According to the ADB Country Strategy and Program (CSP) the Asian Bank plans to allocate $179 million in loans in 2007 which is for $39 million higher of the loan volumes within the 2005 program.
The decision reflects increased support to the governments infrastructure development plan, strong debt repayment capacity and a positive economic outlook. Besides infrastructure, ADBs updated program will also address areas of power and energy sector, especially in renewable electricity and gas supply in underdeveloped regions to bring much needed electricity and heating for the poor.
The ADB support will be also performed through operations in the private sector for the sector better involvement in privatization of key sectors of economy. The four ADB loans planned for the year would address road improvements on the southern corridor, social infrastructure for internally displaced persons and regional towns and early childhood development.