TODAY.AZ / Business

Azerbaijan to refuse credits of international organizations

03 March 2006 [10:53] - TODAY.AZ
The government of Azerbaijan will refuse credits of international organizations delaying negotiations on road infrastructure funding.

That was stated by the Minister of Transport Ziya Mammadov, APA reports.

According to the Minister, in case some international organizations delay negotiations held with Azerbaijan on provision of credits, funding of those projects will be implemented by the government. Mr.Mammadov noted that proposals in this connection have already been prepared and submitted to the Head of State.

The Minister reminded that currently negations on the Locomotive Fleet Rehabilitation Project are underway with the European Bank for Reconstruction and Development (EBRD). The Minister stressed once again that if the Bank delayed negotiations, the government would refuse continuing talks with the EBRD.


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