WB offers to finance reconstruction of gas storages
Financing of the Azerbaijans gas sector by the World Bank (WB) will be discussed during the visit of economist of the bank Berns Hamso to Baku from 31 January to 8 February.
In accordance with a new strategy of partnership for 2006-2009, one of the priority directions selected by the bank is participation in the reconstruction of the gas storages Kalmaz and Garadagh, the Azerbaijani government told Trend. The decision by the bank bases on the necessity of preparation of the gas storages for storing of gas, produced from the Shah-Daniz field. The government agrees with the offer, but the amount of the financing has not been unified yet.
Within the visit Hamso will review the energy project, approved by the Committee of Directors of the bank on 17 May 2005. The bank allocated $48m loan for its implementation. This is the first loan allocated on the conditions of the International Bank of Reconstruction and Development.