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ADB approved $750 mln loan to Azeri energy sector

ADB approved $750 mln loan to Azeri energy sector
14.07.2016 09:33
The Asian Development Bank (ADB) has approved a $750 million loan facility to modernise the country's energy system, the bank said in a statement.
   
The funds will be used for the reconstruction of electricity distribution stations, to buy new electricity meters and improve services and should be drawn within six years.
   
The loan is planned to be allocated in three tranches of $250 million each. The first tranche will cover investment activities from mid-2016 to the end of 2018.





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