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KfW closes its office in Azerbaijan

14.01.2021,17:06


January 14, Fineko/abc.az. Since January 2021 the office of German Development Bank KfW in Azerbaijan has suspended its activities.

ABC.AZ reports that office’s head Natig Abdullayev brought as a reason the completion of projects implemented in Azerbaijan:"Negotiations on new projects and agreements were not conducted."

According to Abdullayev, the last project on the reconstruction of the water supply & sewerage system in Ganja and Sheki completed in 2020. This project was realized jointly with the Azerbaijani government within the framework of the Open Communal Infrastructure Program.

Thus, 60% of Sheki's drinking water needs will be met through the loan allocated by KfW, while Ganja's needs will be met by 40-50%. The rest of the work should be done at the expense of the State Budget to bring those figures up to 100%.