Japanese loan amount hits $1.5 bln in Azerbaijan
Azerbaijan, Baku, March 17 / Trend A. Akhundov /
The Japanese government signed five loan agreements for five projects totaling 110.3 billion yen (about $1.423 billion) from the beginning of cooperation with Azerbaijan to January 1, 2012, a governmental report as of 2011, approved by the parliament, said.
The implementation of three projects worth 48.18 billion yen (about $621.5 million) has been completed and two projects worth 62.13 billion yen (about $801.5 million dollars) - are underway.
Three loan agreements were signed within the projects in the power sector, one - in the field of chemical industry and other - in reconstruction of water supply and sewerage system.
Azerbaijan fully paid off loan funds to the amount of 9.15 billion yen (about $ 118 million), received within the loan agreement for the EP-300 plant construction. About 48.79 million yen (about $629.3 million), or 48.2 percent were spent of the total amount allocated for other four project loans till Jan. 1, 2012.
About 4.21 billion yen (about $54.4 million) of main debt on loans was returned to Japan by January 1, this year.
In general, from the beginning of cooperation, Japan allocated 21 grants totaling $59.74 million to Azerbaijan.