BAKU, Azerbaijan, July 9
By Zeyni Jafarov - Trend:
Asian Infrastructure Investment Bank (AIIB) plans to approve the allocation of a loan to Azerbaijan in the amount of up to $100 million, Trend reports referring to a source in the bank.
According to the source, the decision may be approved on July 15 to assist in the implementation of measures to mitigate the adverse medical, social and economic consequences of the COVID-19 pandemic.
The total cost of the program is expected to exceed $1.7 billion, of which more than $1.4 billion will be covered by the Azerbaijani government. The remaining $250 million will fall on the Asian Development Bank loan and $100 million on the AIIB loan.
The loan executors are the Ministry of Finance and the Government of Azerbaijan.
Earlier, the AIIB approved a $600 million loan to Azerbaijan for the construction of the TANAP gas pipeline.