Nicola Saporiti: IFC coordinates Baku and Absheron water supply project – EXCLUSIVE

The International Finance Corporation (IFC) is continuing negotiations with the Azerbaijani government on an infrastructure project that will secure water supply for Baku and Absheron over the next 30 years, IFC Chief Investment Officer Nicola Saporiti told Report.

According to Saporiti, IFC, as part of the World Bank Group, supports infrastructure projects, including private sector-financed water initiatives, and is involved in preparing a public-private partnership (PPP) agreement for seawater desalination in Azerbaijan.

"We have an agreement with the Ministry of Economy of Azerbaijan for this project. We assist in developing the commercial and technical aspects, determining scale and location, drafting contract terms, and assessing risks. Currently, ACWA Power and the government are discussing an infrastructure contract for a 30-year water supply to Baku and Absheron," he said.

Saporiti added that the tender took place last November, and the Azerbaijani government deemed ACWA Power"s proposal the most suitable.

He emphasized, "After the contract is signed in the coming weeks, the company will begin negotiations with international banks for financing and implement the project under the most favorable conditions. Its goal is to strengthen water supply for Baku and Absheron and expand the use of alternative water sources."