Finance

Finance

Azerbaijan Government secured $1.92 billion from 16 agreements in 2008

13 March 2009 09:50 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijan signed $1.92 billion worth of 14 credit and 2 financial cooperation agreements in 2008 for the financing of various projects in the country, said a government report for 2008.
According to the report, the country has secured in total $6.57 billion worth of 126 credit agreements by January 1, 2009.
Of this, 59 projects worth $2.54 billion have been completed and the rest are under the implementation stage.
The report also shows the total amounts of government-secured loans, technical assistance and grants the government received over the period of 2003-2008:
$128.5 million worth of 7 agreements in 2003, $123 million worth of 7 agreements in 2004, $1 293.3 million worth of 22 agreements in 2005, $617.8 million worth of 14 agreements in 2006, $767.7 million worth of 8 agreements in 2007 and $1 923.95 million worth of 16 agreements in 2008.

The amounts of loans borrowed from international financial and lending institutions in 2008.

Institution	Number of loans	The amount allocated in 2008 (mln. US dollars)
World Bank	6	637,7
Societe Generale, Credit Suisse and Bayerische Landesbank consortium	1	423
Asian Development Bank	3	415
BNP Paribas	1	320
ABN AMRO Chicago branch	1	74,5
French Government	1	21
IFAD	1	17,25
German Government	1	15,5