Baku, Azerbaijan, April 14 (Trend, N. Ismailova)
The World Bank is restructuring the loan it has assigned for the implementation of the First National Water Supply and Sanitation Project in Azerbaijan, the World Bank Baku Office reported Thursday.
"The World Bank currently restructures this loan, and no additional financing for the project is under examination as it is essential to lead exploration of the loan money to a certain percentage", the Office said.
The World Bank assigned $230 million for the First Project covering 22 regions of the country valued at a total of $310 million. Of the money the World Bank assigned, $8.9 million were used, as of October 2010. As a result of implementation of the First Project, at least 700,000 people will be supplied with water and enjoy sanitation services.
The Project, approved by the World Bank's Executive Board in June 2007, started being implemented in March 2008. The project is likely to be completed before the end of January 2012.