The Management of Asian Development Bank (ADP) approved the submission of the second tranche in the amount of $ 300 million on the improvement of water supply and sanitation services. According to Trend, it was informed on ADB's website on Thursday.
“The bank had planned to approve the credit by the end of 2011. This procedure has been postponed till 2012 due to technical reasons. But the negotiations have been completely successful”, - ADB's Office told Trend on Thursday.
The credit funds were focused on completion of works within the framework of improvement of water supply and sewerage systems in Agdash, Goychay, Nakhchivan and Beylagan.
Today, ADB finances the two projects to improve water supply and sanitation services system. The first credit amount of $ 30 million was allocated for the restoration of water supply system in Goychay and Nakhchivan in 2004. Its implementation period has been expired in June 30, 2011.
The second tranche was intended to expand the scope of this project and covers four cities - Agdash, Agjabadi, Beylagan, and Balakan.
Multitranche financing, taking into consideration the reform program in the field of water supply and sanitation and investment supported by a clear strategy, will be the basis for eight-year partnership between ADP and the government of the country.
“Azersu” Open Joint Stock Company’s consultant on the water project is “AICO Consulting Ltd / European Consultans Organization" consortium.
Trend