Azerbaijani, German governments ink financial cooperation agreement
Baku, November 29 (AZERTAC). The governments of Azerbaijani and Germany have signed an “Agreement on Financial Cooperation on the projects agreed in 2008-2012”, said the Azerbaijani Ministry of Finance.
Under the agreement signed by Azerbaijani Finance Minister Samir Sharifov and German Ambassador to Azerbaijan Heidrun Tempel, the German government will allocate €370 mln in preferential loans to Azerbaijan via KfW bank. Some €220 mln of this amount will be spent on a project aimed at improving water supply in Ganja and Shaki. Some €130 mln will be invested in “Open Program on Renewable Energy and Energy Efficiency”, while €20 mln will be used to fund “Environmentally Friendly Waste Management” program.
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