Water Supply System Improved in 4 Regional Centers
Four districts of Azerbaijan will improve their system of water supply and sanitation.
According to the company "Azersu" until the end of the year construction work will start in regional centers of Yevlakh, Barda, Naftalan and Gobustan. This is a part of the project "Water supply and sanitation in small towns", implemented by the local government with the Agency for International Cooperation (JBIC) in Japan.
According to director of JBIC for Central Asia and Caucasus, Tetsuya Yadmady at a meeting with Azersu leader Korkmaz Huseynov, already discussed the acceleration of the work and procedures, and implementation within the framework of the latest technologies.
The project has already started work in the cities Hyzy, Khachmaz and Gusar. Tender procedures for the selection of contractors to carry out similar work in Yevlakh, Barda, Gobustan and Naftalan is being finalized, construction will start immediately until the end of this year.
Overall, the project involves the reconstruction of the water supply and sanitation services in 10 cities. Other than those mentioned in the list of regional centers are Salyan, Shirvan and Neftchala.
Under the terms of the loan agreement, signed May 29, 2009, JBIC will provide for these works a loan of $ 400 million at 1.4% per annum for 30 years, including a 10-year grace period.
The funds, including equipment for water and wastewater treatment, as well as measures for fire fighting in general are used for the reconstruction of pumping stations, transmission lines and distribution networks in the regions, as well as the strengthening of material and technical base of water utility companies.
It is expected that the results of the project have a positive impact on the living conditions half a million. - 17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review