TODAY.AZ / Business

Japan allocates a $1m grant for development of business estates in regions

11 March 2006 [09:55] - TODAY.AZ
The Asian Development Bank (ADB) and the Azerbaijani government will sign an agreement on the project for development of business estates in Baku on March 13.

The $1m grant is allocated within the aid of the Japanese government, Trend reports referring to Mathew Westfall, the head of the ADB Baku representation.

According to Westfall, the funds will be granted for improvement of the housing conditions by the poorest strata of the population. The funds will be distributed in the 10 small regional towns, outside Baku. Business centers will be opened in the towns to organize trainings on entrepreneurship and assistance to the population.

Attending the signing ceremony will be Heydar Babayev, the Azerbaijani Economic development Ministry, and Westfall.


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