The signing of a letter on technical assistance to between Azerbaijan and the Asian Development Bank (ADB) on the project on application of alternative energy sources will be held on 26 May, the Baku Office of the ADB told Trend.
The Minster for Industry and Energy, Natik Aliyev, and Philip Chang, a country economist of the ADB, are authorized in signing of the document.
The bank approved a $750,000 grant for payment of consultants services with respect to develop a project.
The ADB plans to allocate $40m for the implementation of the project in 2006. Part of the credit ($25m) will be allotted on privileged terms, while $15m - on ordinary terms.
The project targets ensuring the regions with alternative energy through use of wind of mills, mini-hydraulic and sun energy. It is necessary to support the agriculture activities in the regions.