Azerbaijan to expand debt to international financial institutions

In November, the government of Azerbaijan is to hold together with the industrial development of the United Nations (UNIDO) an international conference on the development of the industry.

As the Economy and Industry Minister Shahin Mustafayev told the official media, the project will be implemented also due to achievements in the field of agriculture, information and communication technologies, alternative energy, tourism and other emerging priority areas.

According to him, currently due to loans from international financial institutions 14 projects with a total value of $ 7.2 billion are implemented. Preference is given to road construction and transport, water and sanitation, energy, agriculture, environment, finance and other sectors.

The Minister said that the largest share of the loan portfolio (35%) belongs to the World Bank, the Asian Development Bank - 16%, EBRD - 10%, the Islamic Development Bank - 6%, the rest - the result of agreements with other international financial institutions.

Mustafayev aims to further borrowing credits from abroad under the state guarantees. - 17D-

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