Azerbaijan, Baku, May 12 / Trend , I.Khalilova /
From 14 May consultations will start in Manila between Azerbaijan and Asian Development Bank (ADB) on Power Distribution Development Investment Program under multi-tranche funding programs (MFF), with total cost at $500 million, economist of ADB Baku office Rafael Abbasov said on May 12.
"Azerenerji JSC will conduct multilateral negotiations with the bank and operational colleagues," said Abbasov.
He said that for the preparation of projects under the investment program, ADB has provided $1 million grant. The Azerbaijani side has already presented short list of consultants for technical assistance, work on which will begin in late June. Azerenerji confirmed a list of consultants in connection with which the ADB has started the selection procedure.
Technical assistance will be directed towards preparation of projects, primarily for the first tranche multi- tranche funding program.
The investment program envisages promotion of experimental development of small hydropower in remote and poor-developed rural areas; strengthening the distribution networks to improve energy security; reducing losses in transmission and distribution and energy efficiency; supporting policies, restructuring and improving institutional capacity.
In November last year during his visit to Baku, ADB Vice-President Xiaoyu Zhao already discussed the prospects of cooperation in the energy sector, in particular, discussed the possibility of financing projects in power generation, distribution and transmission.
Today, within multi- tranche mechanism with ADB, are implemented transportation projects, for which the bank will provide $500 million in total.