TODAY.AZ / Business

Azerbaijan issue loan to Serbia

03 February 2012 [17:56] - TODAY.AZ
Azerbaijani Minister of Economic Development Shahin Mustafayev and visiting Serbian Foreign Minister Vuk Jeremic signed a 300m euro loan agreement on highway construction. Under the agreement, the money lent by Azerbaijan will be spent on building a part of the highway corridor 11 uniting regions of Lig and Prelina in Serbia.

The loan has a 15-year term, including a grace period of 3 years, with interest rate set at 4.0% per annum Following the signing ceremony, the Serbian FM stated that the agreement `is important` in terms of strengthening bilateral ties. The Azerbaijani government allotted the loan on preferential terms. The project will see construction of 60 bridges and five tunnels.
The construction will be carried out jointly by Azerbaijani and Serbian companies.


/AzerTAc/
URL: http://www.today.az/news/business/102002.html

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