BAKU, Azerbaijan, September 16. The OPEC Fund has approved a total of $60 million for projects in Azerbaijan, the Fund said.
The decisions were made during the 197th session of the Governing Board of the OPEC Fund for International Development (the OPEC Fund).
Reportedly, a US$40 million senior secured project loan will support the "Caspian Sea Water Desalination Project" in Sumgayit, the country’s first large-scale seawater desalination plant.
Moreover, a US$20 million senior loan to a local financial institution will expand access to finance for micro, small and medium-sized enterprises (MSMEs), including women-owned businesses.
Will be updated
