Bank Of Baku

Azerbaijan and KfW sign € 140 mln – loan agreements during past 17 years

Azerbaijan and KfW sign € 140 mln – loan agreements during past 17 years
# 30 March 2011 11:52 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. German Development Bank (KfW) and Azerbaijan have signed 10 financing loans in amount of € 138.7 mln, during past 17 years.

According to Cabinet of Ministers, 8 projects of them which amounted € 71.4 mln have been implemented, other two projects are being implemented: “Azerbaijan has used € 70.5 mln of KfW’s loan and this makes 50.8% of total loan. As of early 2011, Azerbaijan has repaid € 7.9 mln”.

Note that, Azerbaijan has been in cooperation with KfW since 1994.
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