...

KFW PREPARED DRAFT AGREEMENT WITH GOVERNMENT OF AZERBAIJAN ON GAF ISSUES

Business Materials 30 July 2005 13:41 (UTC +04:00)

The German Bank for Reconstruction KfW prepared the draft agreement with the government on the issues of the German-Azerbaijani Fund financing. The agreement envisions allocation of 20 million euro from the German Bank for Reconstruction for implementation of works by GAF on funding the small and medium-size entrepreneurship in the country, the KfW Baku office told Trend.

The draft agreement has been submitted to the country’s government for consideration, however, the document requires a more detailed study, which, accordingly, requires the time, the Cabinet of Ministers told Trend.

For the moment, the GAF performs funding on the account of the revolver fund remainders. GAF has six partner banks вЂ" Azerdemiryolbank, Azerigazbank, Bank of Baku, Parabank, UniBank and bank Respublika.

On the account of KfW, GAF has been allocated funding in the amount of 8,7 million euro- loans of 5,1 million euro and of 3,6 million euro.

Latest

Latest