home . news & publications . Investment News . WB, Azerbaijan to Sign Agreement on Allocation $42 Million of Additional Financing

WB, Azerbaijan to Sign Agreement on Allocation $42 Million of Additional Financing

The World Bank and Azerbaijani government were expected to sign an agreement on January 10 on allocation of additional financing in the amount of $42 million for a Solid Waste Management project in Azerbaijan, the bank's Baku Office said.

"Additional resources are needed for continuing the work within the project," the office said.

According to WB estimates, some 1.8 million tons of solid waste is generated in Greater Baku per year. The bank's experts assume the doubling of this figure in next 20 years due to demographic growth and increase of the income of agglomeration population.

The project was approved by the WB Board of Directors in June 2008. Its implementation began in 2009. The total cost of the project reached $41.5 million, some $29.5 million was the share of WB loan and the remaining part was financed by the Azerbaijani government.

The World Bank's investment portfolio in Azerbaijan consists of 17 projects. The bank has financed some 54 projects worth of over $3 billion since the country's accession to it.

Source: Trend

Back to top

subscribe

events view our upcoming events.

network follow us.



   facebook  linkedin  twitter

 bp
anglo-asian ata-holding
azpetrol statoil
bny_melon azertrans
chevron_logo conocophillips
  ibar exxonmobil
 solar-turbines boeing-logo-website
 
  
 
           
        
   
 
 
         pg
    ekvitasocaraqs            
          ge