TODAY.AZ / Business

ADB extends $160 million to Azerbaijan

01 September 2008 [14:17] - TODAY.AZ
On September 10, the Board of Directors of the Asian Development Bank is due to approve a $160 million loan for the Power Transmission Enhancement Project in Azerbaijan.
The SB Office in Baku said the loan from the bank’s ordinary capital resources (OCR) will be available for Azerbaijan by late September.

The project envisions enhancement of the capacity of the power transmission system and reduction of the regional imbalance in economic growth through providing adequate and reliable power supply.

The project is estimated at a total of $240 million, with $80 million to be allocated by AzerEnerji company.

/APA/
URL: http://www.today.az/news/business/47324.html

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