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Azerbaijan uses AZN 1 bn of international organizations for investment projects in 2012

23 May 2013 15:27 (UTC +04:00)

To him, Azerbaijani government is already working with the international financial organizations on the basis of joint funding principles.

Last year, SOFAZ allocated AZN 639 mln to financing of several investment projects. Of this, about AZN 300 mln was spent to building of settlements for refugees and IDPs, AZN 200 mln – reconstruction of Samur-Absheron irrigation system, AZN 119 mln – construction of Baku-Tbilisi-Kars railroad, AZN 20 mln – financing of the State Program on education of Azerbaijan youth abroad in the years 2007-2015.

In 2012, AZN 130 mln (up AZN 27 mln or 25.9% from 2011) was allocated from the state budget for financing of investment projects realized in Nakhchivan AR. These funds were mainly directed to implementation of infrastructure projects in Nakhchivan AR, as well as reconstruction of water supply and sewerage system, construction of Nakhchivan-Julfa highway, Nakhchivan-Sederek motor road, construction of hydro-electric power station in the AR.