ADB affirms new business-plan on Azerbaijan

Asian Development Bank Board of Directors has affirmed the “business-plan about operations on the country for 2011-2013” about Azerbaijan, said the ADB’s Azerbaijan office.

According to new business-plan, ADB will allocate near $340 mln for Azerbaijan in 2011.

According to business plan, ADB will continue to support energy, water supply, canalization and other spheres. ADB will allocate new loans for financing o Masalli-Astara road. Bank also considers the financing of highways between Baku and Georgia. These highways are considered as main corridor of CAREC Program.

Besides, ADB plan to strengthen and renewing of investment program national distributing network related to energy sector, increase the reliability related to energy supply, reduce the losses during distribution, improve the financial, management and operation spheres of energy sector.

At the same time, ADB will continue to support Azerbaijan in water supply and canalization services within the intracity services. ADB also intends to consider tyhe financing of intracity transport projects.

ADB plans to develop the partnership strategy on Azerbaijan, during next year.

Note that, Azerbaijan has been in cooperation wit ADB since 1999.


/APA/