ADB allocates over $1.3B loan to Azerbaijan in 2016
Asian Development Bank (ADB) allocated $1.325 billion loan to Azerbaijan for financing of 4 projects in 2016, APA-Economics reports citing to Interfax.
Of this, $520 million was allocated for expansion of energy network, $75 million for improvement of water supply, $500 million for Shahdeniz, $500 million for support to economic growth in the country.
This amount does not include $500 million allocated for the Southern Gas Corridor.
As of December 31, 2016 ADB’s loan portfolio on Azerbaijan’s private sector makes up $373.6 million.