Azerbaijan pays off 7 percent of debt to Korea

Business Materials 19 March 2012 17:59 (UTC +04:00)

Azerbaijan, Baku, March 19 / Trend A. Akhundov /

The Korean government has signed a loan agreement for a road construction project to the amount of $ 180 million from the beginning of cooperation with Azerbaijan to January 1, 2012. Its implementation is underway.

This is stated in a report as of 2011, approved by the Parliament late last year.

About $147.9 million or 83.2 percent of the total volume of the allocated loan were spent till Jan. 1, 2012.

About $ 12 million of the main debt on the loan were returned to Korea by Jan. 1, 2012.

In general, Korea has allocated 8 grants totaling $ 40.88 million to Azerbaijan from the beginning of the cooperation.