Azerbaijan, Baku, Dec. 12 / Trend N. Ismayilova /
The German development bank KfW will submit a concept for a project to support small and medium enterprises to the Azerbaijani government in early 2012. It will be funded by a third soft loan of 5 million euros, the KfW Baku office told Trend today.
"Earlier, the bank planned to present the concept of the project to the government by late 2011," the bank said. "But the date was postponed to early 2012."
The bank said a financial contract is planned to be signed with the government next year.
The bank intends to give the credit in Azerbaijani currency and to take the risk of changing the exchange rate. Like the previous two loans, KfW will provide the third loan on preferential terms.
The funds, as with the first two loans, are designed for financing small and medium enterprises through the German-Azerbaijan.