Azerbaijan ready to cooperate with ADFD in power supply, road construction, water supply and melioration areas

Baku, Fineko/ Today in Baku Finance Minister of Azerbaijan Samir Sharifov claimed of the country’s readiness to expand cooperation with Abu-Dhabi Fund of Development (ADFD). ADFD ’s General Director Mohammed Saif Al Suwaidi backed this initiative.

Suwaidi has reported that Abu-Dhabi Fund of Development  is ready to participate in financing of infrastructural projects on the directions considered to be of higher priority by Azerbaijani government.

Finance Minister said that Azerbaijani government makes considerable investments in development of infrastructure both at the expanse of own resources and raised credits.

 “ Our priorities of cooperation with ADFD could become accomplishment of power supply system with increase of its efficiency, development of road-transport infrastructure, upgrade of water supply and sewerage systems, melioration and irrigation. We can work closer with the fund in thses directions“,- Sharifov said.

Today in Baku Finance Minister of Azerbaijan Samir Sharifov and general Director of Abu-Dhabi Fund of Development Mohammed Saif Al Suwaidi have signed a credit agreement for $60 million for 13 years with 3-year concessional period. Annual interest rate on the credit is 5,5%. It increased Azerbaijan’s portfolio from $10 million to $70 million. The credit is designed for construction of Cenub power station’s gas compressing station and supplying 220-Kw power line.


14.06.2011 20:53

Tags: ADFD

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