ADB grants $1.5B to support Azerbaijan's energy sector

2016-1-27

 Azerbaijan, Baku: The Asian Development Bank (ADB)'s updated business plan for Azerbaijan will allocate around $1.5 billion in loans and technical assistance grants to help the country diversify its economy and promote sustainable, non-oil growth.

The approved grants include funding of energy sector projects aimed at improving power distribution network in the country, thereby providing reliable and continuous energy supply to homes and industries.

The funds will also cover investment projects in country’s transport, and the water and urban services sector.

Source: Energy Business Review