TODAY.AZ / Business

German Bank to allot 1,185,000 euro for project development

22 July 2005 [08:18] - TODAY.AZ
The German government will approve a 1,185,000 euro grant to Azerbaijan.
Baku Office of the German Bank for reconstruction KfW told Trend that the funds will be spent on the development of several projects, in particular on project on establishment of land cadastre.

"The funds are allocated for specialists and target financing the development of feasibility study. Thus, the funds allotted as credits under the projects excluding the subsidiary work," the same source said.

Earlier the bank granted Azerbaijan with a total amount of 1.5m euro. The most part of which was spent on the designing of a feasibility study of the project on reconstruction of water and sewerage system of Shaki and Ganja, as well as financing the legal consultations on the establishment of the Deposit Insurance Fund.


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