Azerbaijan, Baku, August 6 / Trend , N.Ismaylova /
The mission of Asian Development Bank (ADB) on Power Distribution Development Investment Program within $500 million Multitranche Financing Facility (MFF) in on visit to Azerbaijan. The visit will conclude by August 7, ADB Baku office said on August 6.
The experts from the bank - a specialist on energy Cleo Kavavaki and chief expert on financial sector Endelmann Martin - are on visit to Baku.
ADB provided $1 million grant to prepare projects within investment program. 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. In addition, $600 million is expected to be approved within MFF for the water sector.
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