Azerbaijan uses $188M of loans allocated by ADB

  07 March 2016    Read: 1091
Azerbaijan uses $188M of loans allocated by ADB
Azerbaijan and Asian Development Bank (ADB) have signed 15 loan agreements since they started cooperation in 1999, the Cabinet of Ministers of Azerbaijan Republic said report on the activities for 2015.
According to the agreements, the ADB has directly allocated $1,613,300,000 to Azerbaijani government on 11 projects covering motor road construction, water supply and sewerage system of towns, melioration and measures against flood.

4 projects have been completed, 7 projects are underway. Loans used on completed projects made $152.5M, loans on ongoing projects makes $1,460,800,000.

The funds used as of January 1, 2016, amounted to $784.3M, which make 48.6% of total loans.

In 2015, $188.1 mln was used.

As of January 1, 2016, $41.2M was repaid.

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