EuroBank representative in Baku discussed the credits for AzGRES
6.3 billion of AZM were invested in the Azerbaijani economy from all the sources in 2005. It is in 12, 7% more than in the previous year. The Azerbaijani Minister of Economic Development, Heydar Babayev told that at the meeting with Director of the Energy and Communal Services Department of the European Bank for Reconstruction and Development (EBRD), Anthony Marsh, Trend reports citing the Ministry `s press release.
Azerbaijan is one of the leading countries in CIS and East Europe on the amount of investments per capita, the minister said. According to the United Nations Commission on Trade and Development (UNCTAD) evaluation Azerbaijan was recognized as the number one country in CIS by the amounts of infestations in 2005, he said. The visit of the EuroBank Director - Jean Limier to Baku was also discussed at the meeting.
AzGRES financing project was discussed at the meeting between the EuroBank representative and the Azerbaijani minister. The project `s cost is $150m. Bank has already submitted the loan conditions list to the government.
PA Consulting has earlier prepared the project `s technical- economical justification. The fifth energetic bloc of the station was repaired by the entity together with Force Machines Saint-Peterborough factory experts with their own means this February. Its power was expanded from 100-130РњBt to 330MBt with the substantial reduction in the fuel consumption. All other energetic blocs of the station are working with the half of their capacity due to their old conditions.