ADB to allocate Azerbaijan $1 billion during three years

The Asian Development Bank (ADB) will allocate $945 million from its capital funds within the business plan for operations in Azerbaijan for 2011-2013 approved by the ADB Board of Directors, the document posted on the official website of the bank said.

According to the business plan, the amount of funds for 2011 is set at $ 340 million, in 2012 - $355 million, in 2013 - $250 million.

The amount of technical assistance is provided to the amount of $2 million.

The business plan for the development of operations in the country, will be primarily focused on infrastructure development. It has the measures to reduce the adverse effects of climate change and greenhouse gas emissions. The priority areas are transport, energy, water and sewer services.

"Improving the transport infrastructure will enhance efficiency and competitiveness," the ADB report said.

"It will also strengthen ties in the region of Central Asia Regional Economic Cooperation (CAREC) and beyond it."

Azerbaijan is an ADB member since 1999. Its active credit portfolio on the country reaches $ 680 million.

The ADB allocated grants totaling $ 13.122 million to the Azerbaijani government and local companies during the period of cooperation.


/Trend/