Today.Az » Business » Heydar Babayev: "Regions investment in 2006 will be $450mln"
18 February 2006 [01:28] - Today.Az
"Significance of the tasks grows to strengthen social and economic development of the country," Heydar Babayev, the Azerbaijani Economic Development Minister, said on Friday.

As Trend reports, the Minister noted that in 2005 GDP increased by 24.6%. Thus, GDP comprises $1,518 per capita. Azerbaijan implemented projects on construction of the H.Aliyev Vaykhir Reservoir in Nakhchivan and Astara-Gazimmad gas pipeline, reconstruction of the Ganja airport and Masally-Yardimly highway within these funds.

New enterprises were opened in all regions of the country. 160 of them are refinery plants, 300 are constructional interprises, 200 agricultural and 900 enterprises of trade and service. The total number of new job places is 346,000, including 173,000 permanent.

The key objective of the program is to develop communal services in the regions.

155 km electricity transmission lines, 64 new substations, over 600 transformers, module station in Astara were built in 2005. Such stations will also be constructed in Nakhchivan, Shaki, Khachmaz in 2006. The first stage of the project on gas supply of the Nakhchivan Autonomous Republic (AR) was completed in 2005. Around 500,000 running meters of new gas pipelines were laid. Regions Lerik and Yardimly will be supplied with gas in 2006, Beylagan and Aghjabadi in 2007. Thus, all regions of the country will be provided with gas.

In 2005 Azerbaijan laid 75 km new water lines and 19.6 km sewerage lines, constructed 4 boiler-houses and repaired 10. The work on reconstruction of interregional and internal roads continues. The reconstruction of the roads Ganja-Shamkir and Lankaran-Lerik is over, while the work on the roads Julfa-Orduvad, Bilasuvar-Iranian border continues. Around 70 bn manats were spent on these purposes.

According to Babayev, the work continues within assistance to entrepreneurship. 90% of the 200 bn manats, set in the Fund for Assistance of Entrepreneurship, was allocated for regional projects. The Fund's money, envisaged for crediting, will grow twice and comprise 400 bn manats. Besides, granting of credit will be simplified. The proposals on the issue are prepared by the Economic Development Ministry and will be submit for approval.

In 2006 the work with international finance institutes will continue. $450 mln is supposed to be spent on the projects in Azerbaijan in 2006. The World Bank will allocate $40 mln for restoration of irrigation-drainage system, $48 mln - SCADA energy project, $35 -agriculture project, $11.5 mln – improvement of social and economic conditions of refugees.

The Asian Development Bank will grant $30 mln for the project on reconstruction of water supply and sewerage in Aghdash, Goychay and Nakhchivan, while German KFW bank in the cooperation with the Swiss government will finance the $54 mln project on reconstruction of water supply system in Ganja and Shaki. The Islamic Development Bank and Arabic Funds will allocate $22.5 mln for construction of the channels Khanarkh and $425 mln for Velvelichay. The projects on reconstruction of the Baku-Georgian border and Alat-Astara highways started.

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