Finance

Finance

ADBâ€™s loan portfolio on Azerbaijan exceeds $ 1 bln

19 March 2012 09:26 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Asian Development Bank and Azerbaijan have signed 10 loan agreements on 7 projects in amount of $ 596.9 mln since they started cooperation, said the Report of Azerbaijani Government on its activity n 2011.

According to APA-Economics, implementation of 3 projects were completed, the other 4 projects are being implemented.

Used loan for completed projects made $104 mln, sum of allocated total loan for implementing projects makes $ 492.9 mln.

As of January 1, 2012, all used loans on signed contracts made $ 253.5 mln or 42.5%.

The used loans allocated by ADB made $108.6 mln in 2011: â€œADB approved allocation of $200 mln to financing of construction of B and C parts of Masalli â€“Astara motor road on the third tranche of development program of motor road network and $300 mln to financing of water-canalizations system of Goychay, Agdash, Nakhchivan and Beylagan cities on the second tranche of water supply and canalization investment programâ€.

Thus, As of January 1, 2012, ADBâ€™s affirmed loans for Azerbaijan made $ 1,094.4 mln.