| Project Detail |
Project Description
A sovereign loan of up to EUR 12.5 million to the Republic of Azerbaijan (the "Borrower") for the benefit of the Ganja City House-Community Production Union (the "Company"). The Banks loan is expected to be co-financed by a capital expenditure grant of up to EUR 2.5 million from an international donor.
The loan proceeds and capital grant funds will be used to finance modernisation of the street lighting networks on selected streets in the City of Ganja (the "City"), including LED luminaries, automated lighting control and monitoring systems, and pole and power cable replacement.
Project Objectives
The Project will aim to create substantial energy savings by improving street lighting infrastructure in the City. It will also help to optimise operation and maintenance costs of street lighting assets and avoid CO2 emissions, thus enhancing service quality, environmental and public health and safety standards. |
