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New building of Central Bank of Azerbaijan to be built at its own expense - Chairman

29 January 2021 19:41 (UTC+04:00)
New building of Central Bank of Azerbaijan to be built at its own expense - Chairman

By Trend

The construction of a new administrative building for the Central Bank of Azerbaijan has been recently widely discussed on social networks, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said.

Rustamov made the remark at the press-conference in Baku, Trend reports on Jan. 29.

“The new building of the CBA will be built at its own expense,” the chairman said.

The CBA transferred about 7.8 billion manat ($4.6 billion) to the state budget in 2020 and it will transfer 250 million manat ($147 million) this year. Therefore, the information that the financing of the construction of the CBA building will be provided from the state budget does not correspond to reality.

Earlier, Turkish Tekfen Holding, through its subsidiary Tekfen Construction, announced the signing of a contract for the construction of the administrative building of the CBA. The project amount has been set at 218 million euros.

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