The Asian Development Bank (ADB) has postponed an investment program on renewable energy in Azerbaijan until 2017.
The bank's Board of Directors plans to approve the Renewable Energy (Biomass Cogeneration) Project on 22 August 2017 instead of the preliminary plan to conduct voting on 2 February 2016.
"With this purpose the ADB mission will collect data on the project on 1-8 April so that the management review meeting could be held already on 27 May,” the bank said on its website.
The bank will lend $40 million to finance the project. The Azerbaijani government will provide $8 million.
The project will be implemented in Oguz and Agcabadi districts of Azerbaijan.
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