The European Bank for Reconstruction and Development (EBRD) has allocated a 91 million euro loan to Azerbaijan for the construction of water supply, sewerage and biological treatment facilities in the city of Shaki and surrounding villages.
Report informs, citing the EBRD, that the bank's Board of Directors approved the loan on April 29.
The loan will be provided in two tranches: 57 million euros and 34 million euros.
The total cost of the project is 95 million euros, of which 4 million euros will be provided as a grant.
The project aims to create modern and sustainable infrastructure ensuring reliable water supply and sewerage systems in Shaki and the nearby settlements of Ohud, Kish and Gokhmug.
The project is expected to have a positive environmental impact and become an important step in advancing Azerbaijan's green transition by reducing water losses, increasing energy efficiency and ensuring proper wastewater treatment.
The borrower is Azerbaijan's Ministry of Finance, while the beneficiary is the Azerbaijan State Water Resources Agency.