IDB allots 130m euros to Azeri energy producer
The Islamic Development Bank (IDB) has allocated assistance
worth 130 million euros to Azerbaijan’s state-owned energy producer
Azerenergy, says the company’s president, Etibar Pirverdiyev.
Pirverdiyev told the press that Azerenergy has been successfully
maintaining ties with the Islamic bank and bilateral cooperation
has been rampantly developing in past years.
"The energy sector is the field where the bank has invested the
most in Azerbaijan," he said. "This financial institution is taking
interest in the distribution networks system, and is ready to
provide financial assistance in the construction of small
hydro-power plants. Overall, Azerenergy draws the most funds from
the IDB in our country."
Pirverdiyev said the total amount of funds allotted by the IDB to
Azerenergy for the implementation of different projects has made up
$300 million.*
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