Consideration of the Asian Development Bank (ADB) on the loan of $ 1 billion for the project of the electricity network operator OJSC Azerishig within the framework of multi-tranche financing Investment Program for Increased Distribution of Electricity in Azerbaijan has been again postponed - now from May 27 to June 7.
According to the information on the official website of the bank, a week after the general meeting the Board of Directors will consider the first tranche of the program (it was scheduled for June 3, and now for June 14).
Funding is provided in three equal tranches of $ 250 million intended for 7 regional electricity distribution networks (Aran, Baku, South, West, Central Aran, North and North-West).
Specific weight of the Azerbaijani government in financing the project will be $ 250 million and the total amount will be determined at the level of $ 1 billion. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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