TODAY.AZ / Business

WB introduces water supply and drainage systems rehabilitation blueprint to Azerbaijan

21 April 2007 [10:47] - TODAY.AZ
The World Bank has introduced the water supply and drainage systems rehabilitation draft project to the government of Azerbaijan for approval.

Azersu chair Nizamaddin Rzayev said the project is aimed at establishing reliable water supply and sewerage in 20 towns. He said the agreement to finance the project is due to be signed in August.

He added that Asian Development Bank and the Government will finance a project to reconstruct water supply and sanitation systems in Nakhchivan, Aghdash and Goychay. The project lead-time is 24 months.

For this project, a $20 million loan comes from ADB, carrying a 32-year term including a grace period of eight years, interest charges are 1.0% per annum during the grace period and 1.5% per annum after and another $10 million loan from ADB ordinary capital resources carrying a 25-year term including a grace period of six years at LIBOR+0.6%.

Another project to rehabilitate water supply and drainage systems in Ganja and Sheki will be financed by KfW and Swiss State Secretariat for Economic Affairs (SECO).

For this project, KfW has lent a loan for 40 years with ten-year grace period at 0.75% annually. The project lead-time is 32 months, APA reports.


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