Cabinet of Ministers writes off Azersu debts for electricity

The Azerbaijani Cabinet of Ministers has decided to write off Azersu (Water economy) creditors’ debts, worth a total of 222 million manat.

Some 83 million manat of the total volume is accounted for by "Bakielektrikshebeke", 64.1 million manat by "Sumgayitelektrikshebeke", 9.3 million manat by "Azerenergy", and 65.6 million manat by "Azerbaijani Melioration and Water Economy".

"Azersu" is instructed to liquidate the electricity debt which resulted from paying using treasury bill funds, worth $56.5 million manat, as well as funds worth $3.8 million manat obtained under state guarantees at the expense of a transfer to the authorized capital.

Liabilities worth $11.9 million manat on loans obtained from the World Bank, the Asian Development Bank, the German bank "KFW", and the Japanese International Cooperation Agency will be paid from the security fund in 2011-2013.


/Trend/