Baku, Azerbaijan, April 15
By Abbas Akhundov - Trend:
The Azerbaijani government and the Export-Import Bank of Korea signed a loan agreement for the construction of the water purification unit in the Baku settlement of Pirshagi, Azersu national water operator said on April 14.
Eximbank will provide Azerbaijan with a loan worth $43.5 million for the construction of a water purification unit with a capacity of 40,000 cubic meters. These funds are granted for 40 years with a grace period of 10 years and an annual rate of 0.2 percent, according to the agreement.
Azersu chairman Korkmaz Huseynov and Executive Director of the Korean Bank Yim Seonq Hyueoq signed the document.
While speaking at the signing ceremony, Huseynov appreciated the participation of Korean government and companies in Azerbaijan's investment projects and stressed that they are successfully implemented.
The work as part of the water supply system reconstruction project of Kurdakhani settlement funded by the Korean government and implemented since 2013 was conducted by more than 70 percent.
The bank is ready to continue supporting the infrastructure projects, Korea's Eximbank director said.
The operation of the Pirshagi unit will prevent the waste water discharge in a large area in the north of the Absheron Peninsula.
translated by NH
edited by CN
Follow us on Twitter @TRENDNewsAgency