Azerbaijan, Baku / Trend corr. I.Khalilova / An agreement on the financial cooperation of Azerbaijan with the German Development Bank KfW on construction of the Azerbaijani hydroelectric power station - Imishli came into force. The bank allocated € 30mln. The bank will allocate credit to Azerbaijan over a 12 year term with a privilege period of 0.75% yearly.
Klaus Muller, the Bank expert, has already visited Baku to launch of the project.
The agreement was signed in Baku on 27 June 2007. Under the agreement Azerenergy, being the beneficiary, must complete the construction of the electric transmission by 2009.
The project envisages construction of the electric transmission line with a length of 195km from the hydroelectric power station to the Imishli region. Furthermore, there are plans to construct a substation in the region of Geranboy and expand electric transmission to 330 Kilowatts.