WB, Korea Green Growth Trust Fund to support environmental projects in Azerbaijan
By Trend
The World Bank (WB) together with the Korea Green Growth Trust Fund will support the Azerbaijani government in cleaning contaminated areas and a number of lakes on the Absheron peninsula, Gulana Hajiyeva, senior environmental specialist of the WB office in Azerbaijan, told Trend April 3.
This project is being discussed during the Green Development seminar taking place in Baku, she said. The first phase of the project is aimed at sharing experience and knowledge, she noted.
The project is designed for three years, and the Korea Green Growth Trust Fund has allocated a grant worth $600,000 for its implementation, she added.
“The WB helped mobilize the funds allocated by the South Korean government through a trust fund,” she said. “The funds will be used to increase the institutional capacity for recover, rehabilitation and economic development of contaminated areas and in order to conduct research on the possibility of such rehabilitation.”
She added that the project is of analytical nature and is not an investment one.
Technical possibilities of implementing the environmental project and the economic benefits resulting from their implementation are being discussed, she said.
Azerbaijan joined the WB Group in 1992.
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