OFID FUNDS CONSTRUCTION OF THERMAL POWER PLANT IN AZERBAIJAN
Vienna, July 15 (AZERTAC). The Vienna-based Fund for International Development (OFID) of Organization of the Petroleum Exporting Countries (OPEC) has allocated 20 million euros for the construction of Janub thermal power plant in Shirvan region of Azerbaijan.
A relevant agreement was signed in the Austrian capital by Azerbaijani Minister of Finance Samir Sharifov and OFID`s Director-General Suleiman Jasir Al-Herbish.
The signing ceremony was attended by Azerbaijan`s ambassador to Austria Fuad Ismayilov, President of Azerenerji Etibar Priverdiyev and other officials from both sides.
The OPEC Fund for International Development (OFID) is a multilateral development finance institution established in 1976 by the Member Countries of the Organization of the Petroleum Exporting Countries (OPEC). Its objective is to reinforce financial cooperation between OPEC Member Countries and other developing countries, by providing financial support to the latter for their socio-economic development.
The foundation stone of the power plant was laid by Azerbaijani President Ilham Aliyev in 2007.
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