ADB to finance power distribution system development in Azerbaijan

Following the success of the road program of multi-tranche financing, the Asian Development Bank offers a similar scheme of payment to Azerbaijan for modernization and development of the power distribution system.

The due announcement was made by a source from the press service for the Azerbaijan's Cabinet of Ministers, noting that the talks of the bank's participation in the development of the energy distribution network are conducted with Azerenerji.

Thus, the Asian Development Bank offers to prepare and execute MFF for this sector but the decision has not been adopted. The Asian Development Bank has previously allocated $150,000 for the technical assistance of the project development.

Currently the bank is ready to approve a credit in the amount of $150,000,000 for development of the Azerbaijan's distribution system.

ADB intends to allocate financing in a form of ordinary credit resources. In particular, the bank holds consultations about financing of modernization of two high-voltage energy distribution lines.

It should be reminded that support to modernization of distribution infrastructure in Azerbaijan is provided by the World Bank, Islamic Development Bank and KfW German Development Bank.

/Regnum/