WB is Ready to Allocate Huge Finances Modernization of Water Supply and Sewage System in Azerbaijan

Business Materials 16 December 2006 15:02 (UTC +04:00)

The World Bank (WB) announced its intentions for fiscal year 2007 to complete the preparation of the first stage of the project for modernization of the water supply and sewerage system in the small cities of Azerbaijan. Generally the Bank intends to allocate $450 mln for these measures, Trend reports with reference to the Chief Economist of the WB for South Caucasus Christina Petersen.

Next year the Bank plans to allocate $220 mln for the first stage. The finance for the second stage will be presented in 2009-2010. In addition to the modernization of the water supply and sewerage system in 20 cities included in the project, it is intended to work out the general plan over Baku and Absheron.

The initial assessment of the project had been held during the November visit of the World Bank led by the Head of the Group of Projects, Andreas Rode.

The feasibility study has already begun to be prepared over 9 selected regions.