Baku, Azerbaijan, Feb. 15
By Anvar Mammadov - Trend:
Asian Development Bank (ADB) will allocate a loan to Azerbaijan for implementation of the Solid Waste Management Project for Intermediary Cities, the ADB said Feb. 15.
The project's total cost is $67 million - some $50 million out of which will be provided through the ADB loan.
The remaining $17 million will be paid by the Azerbaijani government.
The bank said the project will contribute to the development of hygiene and sanitary standards, and improve the health of population in urban and regional centers in Azerbaijan's Nakhchivan Autonomous Republic and the Lesser Caucasus economic zone.
The project's ultimate goals are to organize and implement institutional frameworks, and develop an effective financial management for municipal waste management using innovative mechanisms and tools.
The project is scheduled to be approved on Sep. 30, 2016.
ADB was established in 1966 and has 67 members. The bank's headquarters is located in Manila, Philippines.
Azerbaijan joined ADB on Dec. 22, 1999. The country's share in the ADB capital is 0.5 percent.
ADB's leading shareholders are Japan, the US, India, China, Australia, South Korea and Canada.
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