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EBRD postpones loan allocation for solid waste management in Azerbaijan

4 December 2017 18:02 (UTC+04:00)
EBRD postpones loan allocation for solid waste management in Azerbaijan

By Sara Israfilbayova

Board of Directors of the European Bank for Reconstruction and Development (EBRD) has postponed allocation of a loan for Azerbaijan’s Tamiz Shahar JSC.

The EBRD reported that the Board of Directors will discuss the allocation of the loan on February 14, 2018. Earlier, the discussion was planned to be held November 2017.

A loan in the amount of up to $39 million will be allocated for financing the domestic waste management in Baku and adjacent settlements on the Absheron peninsula (“Big Baku”).

The funds will be used to finance the construction of two transfer stations and sorting facilities, which will allow optimizing the transportation of waste products and reducing the volume of their utilization.

The proposed project is consistent with the EBRD’s “Transition to a Green Economy” approach by reducing carbon dioxide emissions and reducing the overall volume of waste transportation, the main goal of which is to improve the efficiency of solid domestic waste management in “Big Baku”.

Total cost of the project is $39 million. In total, the EBRD, together with the technical assistance, will allocate up to $40.3 million for the project.

Tamiz Shahar JSC is a state organization providing waste disposal services in Baku.

The Company has introduced a number of important projects such as Waste-to-Energy Plant, Material Recovery Facility and is also carrying out very active promotion campaigns in order to increase public awareness on waste problem and to stimulate people to protect environment through proper waste treatment.

The main goal of Tamiz Shahar is to create up-to-date and sustainable waste management system in Baku and bring the latest novelties in waste management sphere to the country through sharing experience with foreign countries and international companies.

EBRD has allocated more than €3 billion to Azerbaijan for implementation of 160 projects since 1992.

One of the main tasks of EBRD is to ensure stable development of Azerbaijan's non-oil sector by investing in small and medium-sized private enterprises.

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