ADB to issue Azerbaijan $945m in loans

ADB to issue Azerbaijan $945m in loans

The Asian Development Bank will provide Azerbaijan $945m in loans under the business plan in 2011-2013.

ADB is expected to issue $340m in 2011, $355m in 2012 and $250m in 2013.

The technical assistance is planned at an amount of $2m. Country Operations Business Plan will target infrastructure development first and foremost.

It provides for measures to eliminate negative consequences of climate change and to reduce greenhouse gas emissions. The priority areas are transport, energy, water supply and sanitation.

Azerbaijan has been ADB member since 1999. Bank’s active loan portfolio for Azerbaijan totals $680m. ABD has issued $13.122m in grants for the Azerbaijani government and local companies so far.

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