WB, Azerbaijan sign agreement on financing project "National water supply and sewerage maintenance - Stage II"

The World Bank and government of Azerbaijan signed an agreement on allocating $230,000,000 of credit by provisions of the International Bank for Reconstruction and Development and $30,000,000 of preference loan by provisions of the International Development Association to finance project "National water supply and sewerage maintenance - II".

The press service for the Finance Ministry told Day.Az that the document was signed by Azerbaijan's Finance Minister Samir Sharifov and WB structure manager on Azerbaijan Gregori Egeinak.

The draft agreements were also signed with executive structures of the Azersu project and state melioration and water economy agency of the Nakhchivan Autonomous Republic.

The aim of the project is to improve water supply and sewerage services in the country's regions and raise their quality and reliability.

The project also envisions improvement of water supply and sewerage services in 21 regions of Azerbaijan. The overall cost of the project is $410,000,000. $260,000,000 will be allocated from the expense of IBRD and IDA credits and $150,000,000 by the Azerbaijani government.

It should be noted that on August 17 of 2007 Azerbaijan and WB signed a credit agreement in the amount of $230,000,000 in the framework of the first stage of the project "National water supply and sewerage maintenance - I". Azerbaijan's share in the project made $80 mln out of $230 mln.

The project envisioned reconstruction of the water supply and sewerage systems in 22 regions of the country (Agstafa, Bilesuvar, Khanlar, Geranboy, Quba, Oghuz, Qabala, Saatli, Tovuz, Shamakhy, Zaqatala, Absheron, Hajiqabul, Qazakh, Qakh, Samukh, Sabirabad, Shamkir, Terter, Mingechevir and Khirdalan, as well as Babek and Sharur regions of the Nakhchivan Autonomous Republic).

It should be noted that WB will allocate $720,000,000 for reconstruction of water supply and sewerage systems in 43 regions of Azerbaijan.

/Day.Az/