Azerbaijan Secures Over $110M from OPEC Fund for Infrastructure and SME Development
Azerbaijan has been allocated over $110 million from the OPEC Fund for International Development to enhance infrastructure and support small businesses. The funding includes a $90.4 million loan for the Sumqayit Wastewater Treatment Plant, aimed at improving sanitation for 427,000 people. Additionally, $20 million will support MSME lending as OPEC Fund's first synthetic local currency loan.
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Azerbaijan has received more than $110 million in financing from the OPEC Fund for International Development, approved during the 195th Governing Board meeting. This includes a $90.4 million loan for the Sumqayit Wastewater Treatment Plant Project, which will build a facility capable of treating 100,000 m³/day of wastewater, improving sanitation for 427,000 people and reducing pollution in the Caspian Sea.
Furthermore, an additional $20 million aims to enhance MSME lending, marking the Fund's first synthetic local currency loan. The funding is part of a broader $890 million package supporting development projects globally.
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