OREANDA-NEWS. October 08, 2010. The Asian Development Bank (ADB) has revised timetable for the Multi-Tranche Financing Facility (MFF) of Power Distribution Development Investment Program.

The Bank reports that the ADB Board of Directors plans consideration of the credit for this project at the end of June 2011. Up to date the Bank has announced completion of Initial Poverty & Social Assessment (IPSA).

Initially approval of the MFF first tranche was scheduled for 2010 and then for March. The being-prepared program aims to strength and upgrade electricity distribution networks in about 40 administrative districts of the country, run by Azerenerji OJSC (electric supply operator) that implies to reduce electricity losses, raise energy efficiency, rehabilitation of delivery systems, and financial changes in Azerenerji.

At that, the size of the credit did not change. At the first stage Power Distribution Development Investment Program will allocate USD 50 million as ordinary capital resources (OCR) and overall size of MFF will be up to USD 500 million.