Baku, Fineko/abc.az. Implementation of the agreement between the Asian Development Bank (ADB) and the Government of Azerbaijan on the second tranche of Multi-Tranche Financing Facility (MFF) “The investment program of water supply and sanitation", signed on 6 June in Nakhchivan, may begin before the agreement comes into force.

The Baku-based ADB resident office informed of completion of the process of selecting contractors for construction work within the tranche.

"The contract with the contractor for works in the city of Nakhchivan, where the State Committee for Land Reclamation & Water Management of the Nakhichevan Autonomous Republic acts as an executive agency, has been signed. Documents on the selection of contractors in the cities of Agdash, Goychay, Beylagan, presented by Azersu, are under consideration of the Bank. All of these contracts will be funded after the entry into force of the credit agreement," the ADB office said.

The agreement was signed by Azersu chairman Gorkmaz Huseynov, NAR SCLRWM chairman Asker Askerov and ADB country representative Olly Norojono. The second tranche ($300 million) was given for 24 years with a 4-year grace period. The Azerbaijani government will finance another $110 million for the budget of the project oriented for works in the cities of Agdash, Beylagan, Goychay and Nakhchivan. The executive agencies are Azersu OJSC and the State Committee for Land Reclamation & Water Management of the Nakhchivan Autonomous Republic.

Out of the total loan for Azersu, part of the second tranche of the MFF ($300 million), $130 million will be spent in the city of Nakhchivan and $170 million on works in the cities of Goychay, Agdash and Beylagan.

25.06.2012 11:23