Azernews.Az

By Ayya Lmahamad

The European Bank for Reconstruction and Development plans to allocate € 10 million to the Azerbaijani government for modernization of waste collection infrastructure in the Ganja city, Trend has reported.

The main goal of the project is to improve waste collection services in Ganja city in terms of the environmental, health and safety standards. Thus, the project will improve the quality of waste management and reduce the negative impact of waste collection on the environment.

The project has undergone conceptual review and is waiting for its final inspection.

Established in 1991, EBRD invests in projects that contribute to the transition to an open market economy, as well as the development of private and business activities.

The Bank is a leading investor in Azerbaijan. The country has been cooperating with EBRD since 1992 to achieve further economic development. One of the main priorities of EBRD in Azerbaijan is to support the local corporate sector with direct financing. EBRD continues to pursue investments in energy projects, especially where there is a gap to improve efficiency and energy security.

Azerbaijan is the largest recipient of EBRD funds in the Caucasus, as well as one of the largest recipients of this organization’s funds in the CIS and Eastern Europe.

To date, the EBRD has invested €3.3 billion ($3.6bn) in Azerbaijan’s economy within 172 projects. The EBRD also provides business consulting services to small and medium enterprises, has provided technical support to improve financial performance and development of more than 1000 companies.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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