Baku, Azerbaijan, Feb. 2
By Azad Hasanli – Trend:
Azerbaijan will repay its share of participation in the Asian Infrastructure Investment Bank (AIIB) within five years, a source in the Azerbaijani government told Trend.
Azerbaijan made the first payment in June 2016, according to the source.
“According to the rules, the first payment must be made within one month after ratification of the agreement. In our case, it is $10.16 million that we paid in June 2016," the source said.
Azerbaijan’s participation share in the AIIB capital is $254.1 million.
The source also said $50.182 million will be paid in five tranches and the government will also pay a part of the amount in treasury bills, which can be withdrawn at any time.
AIIB was founded in June 2015. Azerbaijan is one of the bank’s founding members.
As of today, the Asian Infrastructure Investment Bank has allocated one loan worth $600 million for the Trans-Anatolian Natural Gas Pipeline (TANAP).