$750M loan approved for distribution network revamp in Azerbaijan

Azerbaijan, Baku: The Asian Development Bank (ADB) has approved a $750 million loan for the upgrade of the power distribution networks in Azerbaijan, which will benefit over 1.4 million consumers.

The loan to be rolled out in three instalments of $250 million each will help modernize distribution substations and lines across the country, reports Trend.

The loan will run for over six years with an expected completion date in December 2022.

Source: Trend