The state operator of water supply and sewerage services Azersu OJSC and the State Committee of Land Reclamation and Water Management of the Nakhchivan Autonomous Republic signed project agreements with the Asian Development Bank in Baku on December 1 for financing the project Investment Program of Urban Water Supply and Sanitation – 3.
ADB has expressed willingness to allocate $150 million for the continuation of the above project. Of these, $ 122.16 million will be used for the reconstruction of water and sanitation infrastructure in Agjabedi, and the remaining $ 27.84 million will be used in the modernization of the water economy of the Nakhchivan city.
ADB has been working with the Government of Azerbaijan to improve urban water and sewerage infrastructure since 2005. In 2012 ADB allocated additional $300 million for the implementation of these works. The bank finances the work in Goychay, Agdash, Beylagan, Agjabedi and Balakan, as well as Nakhchivan. --08D--
Economics
-
Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
-
Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
-
Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
-
The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
Leave a review