Azerbaijan to receive $1.5bn to boost energy sector

A loan worth $1.5 billion will be given to Azerbaijan to improve its energy, transport and urban sectors. The Asian Development Bank is providing the money to develop eight projects […]

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By Jacqueline Echevarria

A loan worth $1.5 billion will be given to Azerbaijan to improve its energy, transport and urban sectors.

The Asian Development Bank is providing the money to develop eight projects including power, transport and water sectors.

The energy projects will help improve the country’s electricity distribution network and provide reliable and continuous energy supply to homes and industries, the ADB stated.

The investment is part of the ‘Country Operations Business Plan’ (COBP) programme to be achieved between 2016/2018.

It has been developed by the ADB and Azerbaijan’s Government.