CONSULTATIONS OVER ECONOMIC COOP BETWEEN AZERBAIJAN AND GERMANY SUCCEEDED
The cooperation projects are mainly associated with the German-Azerbaijani Fund and Azerbaijan Micro-crediting Bank, which allotted credits to the selected banks of Azerbaijan to bolster small and medium enterprises and assistance rendered to the Economic Development Ministry in building up the market economy and privatization of Azerbaijani enterprises. Other vital projects serve legal and judicial reforms, reconstruction of water supply of Imishli, Ganja and Shaki.
The day after, Germany allocated €270 million to Azerbaijan: €130 million is given to Azerbaijan within the frames of the bilateral cooperation including €108 million spent for adjustment of bilateral financial ties, while €32 million for technical cooperation. On the other hand, one third of the funds allocated by the European Union are given by Germany. The decision on the amount of aid to be given in the future will be made in the upcoming bilateral intergovernmental negotiations in spring 2004.
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