The Asian Development Bank approved for disbursement the first portion of the multi-tranche financing facility for a water and sanitation program in Azerbaijan, ABC reports. The USD77 million loan will support the selection of contractors to modernize water and sewage systems in the cities of Geychay and Nakchivan. ADB and Azerbaijan are currently preparing the second loan, which will finance works in the cities of Agdash, Agjabadi, Balakan and Beylagan.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
