Azernews.Az

Akbar Novruz

Read more

The World Bank has announced a new date for approving financing for the major environmental initiative “Restoring the Caspian Sea Ecosystem: Building Capacity for Pollution Management and Biodiversity Conservation”, AzerNEWS reports.

According to the bank, the decision is now scheduled for April 8, 2026, instead of the previously expected April 1.

The project involves Azerbaijan, Kazakhstan, and Turkmenistan, and aims to strengthen regional cooperation in tackling pollution in the Caspian Sea while enhancing biodiversity conservation.

The Global Environment Facility (GEF) is providing a $11.74 million grant to the World Bank and the United Nations Environment Programme (UNEP) as implementing agencies.

— The World Bank will submit $8.24 million for Board approval
— The United Nations Office for Project Services (UNOPS) will act as the implementing agency
— UNOPS will also receive a $183,489 preparation grant to develop environmental and social standards and coordinate with participating countries

The initiative is structured around three key components:

— Enhancing pollution management — $3.9 million
— Strengthening management of protected natural areas — $3.9 million
— Project management — $443,120

The project is designed to boost institutional capacity in participating countries and support commitments under the Tehran Convention, reinforcing long-term efforts to protect the Caspian Sea’s fragile ecosystem.