Baku, Azerbaijan, Sept. 27
By Maksim Tsurkov – Trend:
The Asian Development Bank (ADB) has approved a business plan on operations in Azerbaijan in 2018-2020 that was posted on the ADB website Sept. 27.
Azerbaijan is eligible for regular ordinary capital resources (OCR) lending in 2018-2020, says the business plan. The estimated cost of the ADB lending program for three years is $1.6 billion. Total cost of projects, taking into account the share of the Azerbaijani government, is $1.985 billion.
ADB funds will be used for water (infrastructure), transport (road and railways), energy projects and public sector management projects.
Total volume of technical assistance that will be provided by the Asian Development Bank in 2018-2020 is $5 million. The technical assistance funds are meant to be used for improving public and private sector services in order to create infrastructure, preparing an integrated urban development project, improving the efficiency of public sector, supporting sustainable and inclusive energy.
ADB was founded in 1966. Sixty-seven states are its members. Azerbaijan became an ADB member on Dec. 22, 1999.