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Azerbaijan to receive $800 million foreign loans for investment projects next year

November 26, 2007
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1 min read

The FINANCIAL — According to  APA-Economics, in 2008 the Government of Azerbaijan intends to channel a total of AZN 4.044 billion into projects and activities planned in the State Investment Program.

 

The Cabinet of Ministers said the government plans to free up 83.4% (AZN 3.374 billion) will come from the government financial resources, including 70.2% (AZN 2.841 billion) from the state budget and 13.2% (AZN 533 million) from the State Oil Fund of Azerbaijan (SOFAZ).

Besides, the government will receive foreign loans of AZN 670 million (about $800) for financing the projects. This will make up 16.6% in structure of investments.

 

 

 

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