The Georgian Parliament has approved an agreement between the Governments of Georgia and Azerbaijan on the repayment of debts to Baku. The document was supported by 127 Members of Parliament, Trend Special Correspondent in Georgia reports
The debt will be repaid through money on the base of restructuring. Georgia's debts to Azerbaijan totalling $16,189,573.
In accordance with the new variant, the repayment of a $3,239 mln. debt will commence in 2007 until the end of 2021.
The repayment of a $2.7mln. debt will commence immediately after the enactment of the agreement and will be carried out in two stages to end in 2006.
Repayment of the third segment will commence in 2010 and complete in 2025. The interest charged will be 3% per year. The debts were formed as a result of trading operations carried out in 1992-1994.