The German government will provide for the implementation of projects agreed with the Azerbaijani government in 2008-2012 subsidized loans for 370 million euros.
According to the press release of the German embassy in Baku, it is provided by the intergovernmental agreement on financial cooperation project agreed in 2008-2012 signed on November 28 by the finance minister, Samir Sharifov, and German Ambassador to Azerbaijan, Heidrun Tempel. Under the agreement, the loan will be presented through a bank KfW. Most of these funds, 220 million euros, will be sent on the "Programs utility infrastructure" in Ganja and Sheki.
In addition, €130 million will be spent on financing the "Open program of renewable energy and energy efficiency." Another 20 million euros will be allocated to support the program "Ecologically pure waste management."
Earlier, the German government approved providing for Azerbaijan by the KfW funds amounting 595 million euros. Of this amount, 95 million euros were sent to already completed projects, 220 million euros to the projects under implementation, and another 280 million euros have been provided on future projects.
Financial cooperation between the two countries continues since 1993. Since 1993 , the Federal government has provided for Azerbaijan through GİZ and other organization a technical assistance amounting 75 million euros. Currently, about five million euros are allocated for this purpose.
The main directions of technical cooperation is to support the private sector in the field of non-oil , municipal development, reforms in the field of justice, and guard of bio-diversification.—06D--
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