In its first private sector investment in Azerbaijan’s infrastructure sector, the Asian Development Bank provided a 20 million-euro loan to help a local cement plant increase its production capacity. The loan will also help Garadagh Cement reduce its fuel consumption by funding the replacement of four existing kilns with more efficient ones.

About the author

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    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.