Saudi Development Fund allocates $35m to Azerbaijan

Azerbaijan’s national water operator Azersu and the Saudi Development Fund (SDF) have signed a loan agreement that will see the fund allocating US$35 million to improve water supply system in the city of Khirdalan, Azerbaijan's AzerTac news agency reported.

The loan agreement was signed for the project "Reconstruction and expansion of water supply and sewerage services in the city of Khirdalan".

The agreement was signed by Azersu chairman Gorkhmaz Huseynov and SDF vice president and managing director Yousef bin Ibrahim Al-Bassam.

The total cost of the project is US$75 million, of which US$35 million will be given on preferential terms by the SDF, while the remaining funds will be provided by the Azerbaijani government.

According to AzerTac, the project is designed with the prospect of development until 2035 for sustainable water supply for more than 190,000 people.

Bakudaily.az