BAKU, Azerbaijan, Feb.15
By Zeyni Jafarov - Trend:
The European Bank for Reconstruction and Development (EBRD) decided to allocate 10 million euro to the government of Azerbaijan as a loan to modernize the solid waste collection infrastructure (cars and containers for waste collection and street cleaning) in the city of Ganja in 2020, Trend reports referring to a source in the EBRD.
According to the source, the Azerbaijani Ministry of Finance will be the loan’s borrower, and the Association of Housing-Communal Services under the Executive Power of Ganja - the executive agency. The loan approval is scheduled for March 9, 2021.
The modernization project envisions work on improving operational and financial efficiency. The main goal is to improve waste collection services in Ganja city in terms of environmental standards. The project will improve the quality of waste management and reduce the negative impact of waste collection on the environment. It has already been conceptually tested and is awaiting final validation.
The EBRD is a leading investor in Azerbaijan and has so far invested about 3.3 billion euro in various sectors, including energy, infrastructure, banking, industry, and trade. Besides, the bank provides advisory services to small and medium-sized businesses.
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