AZERBAIJAN-GERMANY INTERGOVERNMENTAL NEGOTIATIONS FRUITFUL
In the first day of negotiations, the contract connected with Guarantee Fund of Credits has been signed. The document was signed by minister of economic development Heydar Babayev and the representative of KwF Bank. The contract stipulates use of the grant for 4 million Euros allocated for guarantee of credits, received by the Azerbaijan banks at foreign financial institutions.
At negotiations discussed were the carried out and forthcoming projects, and also was confirmed allocation of the soft loan for 30 million Euros for the Azerbaijan state regional power station - construction of Imishli transmission line.
At the meeting of Heydar Babayev taken place on August 15 with the state secretary of Germany Ms. Karin Kortman discussed was the present condition of cooperation of two countries and prospect of the further expansion of contacts.
Next day - on August 16, the final protocol on the Azerbaijan-Germany negotiations has been signed. According to the Protocol, Azerbaijan in the frame of financial cooperation will receive the soft loan for 9 million Euros, and for technical projects - the grant of 5 million Euros.
Azerbaijan also has presented the German party its suggestions on the further cooperation.
Other news in this section
