Germany to allocate 137 mln euro to Azerbaijan

Germany to allocate 137 mln euro to Azerbaijan
# 11 December 2012 07:10 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. The protocol signed on the basis of Azerbaijani-German negotiations on economic policy contains guidance on the main areas of cooperation between Azerbaijan, German bank KfW and German Society for International Cooperation (GIZ) for the next 4 years.

The Ministry of Economic Development of Azerbaijan told APA that the protocol says of 137 million euro to be given by German side for the next 4 years for projects in Azerbaijan on a regional and bilateral basis. In fact, the protocol covers the relationships of the parties in 2008-12 – precisely in these terms there were achieved arrangements on the covered projects which focus on the water sector, alternative energy, small and medium enterprise, justice, education and government.

"The parties have agreed to hold regular talks at the end of 2014," it was informed.

Since 1995, Germany has assisted to Azerbaijan for 133.4 million euro in loans and 44.9 million euro in grants.

The talks took place in Baku on 4-5 December under the chairmanship of the Ministry of Economic Development of Azerbaijan Samir Veliyev and head of Southern and Eastern Europe and the South Caucasus Department of the Ministry of Economic Cooperation & Development Johan Bedmer.

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THE OPERATION IS BEING PERFORMED