ADB, World Bank Help Fund Azerbaijan Infrastructure Projects

Azerbaijan is set to build a 760-megawatt thermal power station through commercial financing under government and Asian Development Bank guarantees, a pilot private sector financing for the multilateral agency in the South Caucasus, abc.az reports.

Negotiations on this funding scheme ended as the government began talks with the World Bank for the financing of a highway expansion project in the capital city of Baku. The World Bank has lent Azerbaijan some USD500 million to finance road projects.

About the author

  • Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.