TODAY.AZ / Business

EBRD keen to co-op with Azerbaijan in domestic waste management

09 September 2017 [16:18] - TODAY.AZ

By  Trend

The European Bank for Reconstruction and Development (EBRD) is interested in cooperating with Azerbaijan in the sphere of domestic waste management, EBRD President Suma Chakrabarti said during his visit to the municipal solid waste incineration plant in Baku.

Chakrabarti pointed out Azerbaijan’s success in the sphere of domestic waste management, according to a message of Azerbaijani Economy Ministry.

Azerbaijan’s Minister of Economy Shahin Mustafayev, for his part, informed the EBRD head about the plant’s activities.

Chakrabarti further visited the Balakhany landfill for solid waste disposal and also familiarized himself with the conditions created around the Boyukshor lake.

On Nov. 1, the EBRD Board of Directors plans to approve a loan for Azerbaijan’s Tamiz Shahar JSC, established to improve the ecological condition of Baku.

A loan in the amount of up to $39 million will be allocated for financing investments in the solid domestic waste management in Baku and adjacent settlements on the Absheron peninsula (“Big Baku”). The funds will be used to finance the construction of two transfer stations and sorting facilities, which will allow optimizing the transportation of waste and reducing the volume of its utilization.

The project’s goal is to improve the efficiency of solid domestic waste management in Big Baku.

Total cost of the project is $39 million. In total, the EBRD, together with the technical assistance, will allocate $40.3 million for the project.

Azerbaijan has been a member of EBRD since 1992. Since then, the bank has invested more than $2.8 billion in 161 projects in Azerbaijan’s financial, corporate, infrastructure and energy sectors.

URL: http://www.today.az/news/business/164824.html

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