Baku, Azerbaijan, March 8
By Abbas Akhundov - Trend:
Azerbaijan and the European Bank for Reconstruction and Development (EBRD) have signed nine loan agreements worth $1229.45 million throughout a period starting from the onset of Azerbaijan's cooperation with EBRD in 1991 till January 1, 2014, according to Azerbaijani government's report for 2013, submitted to the country's parliament.
The loans were attracted to nine projects; realization of eight of these projects has already been completed.
Some $479 million or about 39 percent of all funds granted by the EBRD have been used as of January 1, 2014.
Repayment of the debt to the EBRD is going on in line with the schedule, and Azerbaijan has already returned $267 million of the main debt.
In 2013, various mission of the bank visited Azerbaijan and discussed prospects of cooperation with the country in the transport, financial, banking, energy and environmental sectors.
Translated by E.A.