Monday May 23 2022

Parliament ratifies changes to agreements with Japan, German bank

21 December 2021 17:48 (UTC+04:00)
Parliament ratifies changes to agreements with Japan, German bank

By Sabina Mammadli

The Azerbaijani parliament has approved changes to relevant agreements with Japan and the German Development Bank (KfW), Trend has reported.

At the plenary session held on December 20, parliament debated the bill “On approval of changes to the Loan Agreement No. AZB-P4 signed on May 29, 2009, within the project titled 'Water supply and sewerage in small towns' between the Azerbaijani government and the Japan International Cooperation Agency”.

The project aims to reconstruct water supply and sewerage systems in Gusar, Khachmaz, Khizi, Gobustan and Naftalan.

The bill "On approval of changes to the Financing Agreement for the project 'Establishment of Samur-Yalama National Park' within the Ecoregional Conservation Plan for the South Caucasus between the Azerbaijani Finance Ministry and KfW" was also discussed.

Following the discussions, both documents were put to a vote and adopted.

Currently, Azerbaijan and Japan are cooperating in different fields of economy. Japanese companies in Azerbaijan work in the fields of oil and gas as well as agriculture. It should be also noted that 2022 will be the “year of friendship between Azerbaijan and Japan”.

The German Development Bank (KfW) has been cooperating with Azerbaijan since 1994. KfW has been implementing various investment projects and consulting services in Azerbaijan.

Azerbaijan’s Finance Ministry and KfW signed grant agreement on the creation of Samur-Yalama Park in 2006. The grant equalled 2.55 million euros in aggregate. Samur-Yalama National Park (SYNP) was established in 2012 within the framework of the "South Caucasus Environmental Program" with financial support from the German Development Bank (KfW) and international consultants.


Follow us on Twitter @AzerNewsAz

Latest View more