South Korea allocates loan for construction of water purification plant in Azerbaijan

Photo: South Korea allocates loan for construction of water purification plant in Azerbaijan / Economy news

Baku, Azerbaijan, March 11

By Abbas Akhundov - Trend:

South Korean government has allocated about $43.5 million for Azerbaijan. The relevant loan agreement was signed by Azerbaijan's Minister of Finance, Samir Sharifov and South Korea's ambassador to Azerbaijan, South Korea's ambassador to Azerbaijan Choi Suk-Yin on March 11, in Baku, Azerbaijani Ministry of Finance said.

The funds will be allocated from Economic Development Cooperation Fund of South Korea's Export-Import Bank for construction of a water purification plant in Baku's Pirshagi settlement, the ministry said. The water processed in this facility will be used for agricultural irrigation.

During the signing ceremony of the loan agreement, the existence of relations between Azerbaijan and South Korea was emphasized. The parties stressed that the cooperation between the countries in the economic, cultural, petrochemical, energy, transport, tourism and other spheres is at a very high level.

Translated by L.Z.

Edited by C.N.

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