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 Press release - World Bank To Support Environmental Sector In Azerbaijan (WB)

 Press release date: 29.06.1998

  FOR IMMEDIATE RELEASE 
The World Bank
News Release No. 98/1857/ECA

Contact: Marjorie Robertson (202) 458-8408
Internet: Mroberston@worldbank.org

WORLD BANK TO SUPPORT ENVIRONMENTAL SECTOR IN AZERBAIJAN

WASHINGTON, June 30, 1998- The World Bank today approved a US$20 million equivalent Urgent Environmental Investment Project credit to Azerbaijan to restore the countrys sturgeon production, support environmental decontamination, and strengthen the Azeri environmental management system.

The project consists of the following five components:

  • Sturgeon Hatchery (US$9 million) which will restore the capacity of Azerbaijan for the production of sturgeon fingerlings by building a new hatchery.
  • Mercury Cleanup (US$8.1 million) which will decontaminate one area which is currently heavily polluted by mercury in a chlor-alkaline production plant in Sumgait city located on the Absheron peninsula.
  • Offshore Oil Field Cleanup (US$5.1 million) which will test cleanup methods on a pilot basis and mitigate existing pollution in one onshore oil field of the Absheron Peninsula.
  • Environmental Management (US$1.4 million) which will strengthen the Azeri environmental management system.
  • Project Management and Implementation (US$0.9 million) which will provide project management and implementation support for the project.

The total cost of the project is US$24.51 million equivalent, including contingencies. The IDA credit will be disbursed on standard IDA terms with a maturity of 35 years, including a 10-year grace period. Since it joined the World Bank in 1992 and IDA in 1995, Azerbaijan has received approximately US$290 million equivalent for 8 projects.



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