Azerbaijan will allocate credit to foreign countries for 100 million manat

The Azerbaijani government intends to allocate from the state budget for 2015 to foreign countries a credit equivalent to the amount of 100 million manat.

According to the Ministry of Finance that promulgated the draft state budget for next year, Azerbaijan will continue its active state policy on lending international projects. What kind of particular project is in question has not been reported.

Earlier Azerbaijan gave Serbia a loan of 300 million Euros to finance the construction of a road section in the central part of the country. It was allocated for 15 years with a grace period of 3 years at 4% per annum. For the construction of the Georgian section of the Baku-Tbilisi-Kars Azerbaijan allocated Georgia two loans totaling $ 775 million. The first loan ($ 200 million) was allocated for a period of 25 years at 1% per annum. The second one ($ 575 million) was at 5% per annum.

It should be noted that the Azerbaijani government has borrowed huge foreign and international credit facilities, the maintenance of which in 2015 will provide 703 ​​million manat of expense. --08B--

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