ECONOMY


ABD to allocate $ 46 million to Azerbaijan for the development of bio-energy sector

Baku, October 19, AZERTAC

Asian Development Bank plans to allocate $ 46 million to Azerbaijan for the development of bioenergy sector, the Deputy Chairman of the State Agency for Renewable & Alternative Energy of Azerbaijan (ABOEMDA) Jamil Melikov stated. According to him, these projects are planned to be implemented in Agjabadi, Oghuz and Samukh regions. Jamil Melikov told that these funds will cover 90 percent of the projects, while the remaining 10 percent will be funded by the Azerbaijani government.

At present, the Bank is completing preparation of technical feasibility study documents. According to the documents, this bank will express its agreement to finance the projects, Jamil Malikov stressed.

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