Efficient use of water resources in Azerbaijan can not only increase productivity but also save the state budget 1.5 billion manats (over $882.3 million) over the next 10 years, said Smita Misra, Senior Water Supply and Sanitation Specialist at the World Bank, Report informs.
Misra shared these insights at the "Transitioning to Efficient Water Sector Institutions and Programs for Addressing Water Security Challenges" event held in Baku.
According to her, over the past decade, Azerbaijan has invested a substantial 8 billion manats (approximately $4.706 billion) in the water sector. Looking ahead, the country is expected to require an additional 6 billion manats (over $3.529 billion) in investments over the next 10 years.
However, Misra pointed out that the amount of subsidies needed for this sector could be reduced from 6 billion manats to 4.6 billion manats (approximately $2.706 billion) through strategic measures.
"Savings can be achieved by increasing tariffs, reducing water losses, and optimizing the workforce," she explained.