The Azerbaijan State News Agency

ECONOMY

Saudi Development Fund allocates $35m to improve water supply in Khirdalan

04.07.2014 [19:14]
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Baku, July 4 (AZERTAC). Azerbaijan’s national water operator Azersu and the Saudi Development Fund (SDF) have signed a loan agreement that will see the fund allocate $35 million to improve water supply system in the city of Khirdalan.

The loan agreement was signed on the project "Reconstruction and expansion of water supply and sewerage services in the city of Khirdalan".

The agreement was signed by Azersu chairman Gorkhmaz Huseynov and SDF vice president and managing director Yousef bin Ibrahim Al-Bassam.

The total cost of the project is $75 million, of which $35 million will be given on preferential terms by the SDF, while the remaining funds will be provided by the Azerbaijani government.

The project is designed with the prospect of development until 2035 for sustainable water supply of more than 190,000 people.