ARAB FUNDS POISED TO OPEN CREDIT LINE
The consortium of Arab financial funds confirmed the intention to open a credit line, AzerTAj correspondent learnt for the press-service of the joint-stock company “Azerenergy”.
Ministry of Finances and Azerenergy received conditions of the credit agreement. The crediting involves Islamic Development Fund, Saudi Fund, Abu Dhabi Development Fund, OPEC Fund, and Kuwait Fund for Arab and Economy Development.
The decision to construct substation “Khachmaz ” in the north of Azerbaijan was made last year in Baku. In energy specialists’ opinion, the realization of the project has some advantages. In particular, the substation will allow increasing the flexibility of energy system and improve the distribution of electric energy in the northern region.
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