ADB AND GOVERNMENT OF AZERBAIJAN SIGN NEW LOAN AGREEMENT
The government of Azerbaijan and Asian Development Bank (ADB) signed loan agreement on the first tranche worth $ 75 mln as a part of Water Supply and Sanitation Investment Program.
The agreement was signed by Azerbaijani Finance Minister Samir Sharifov, head of “Azersu” joint stock company Nizamaddin Rzayev, head of the State Melioration and Water Supply Agency of Nakhchivan Autonomous Republic Asgar Asgarov.
ADB`s first tranche loan has a 24-year term with a 4-year grace period. A percentage will be set according to LIBOR-based loan facility. The Government of Azerbaijan allots $25 million.
The first tranche will cover Nakhchivan Autonomous Republic, Goychay region and surrounding settlements of Baku city.
Deputy Prime Minister of Azerbaijan Abid Sharifov attended the event.
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