GOVERNMENT OF JAPAN ALLOTS 344 MLN DOLLARS PREFERENTIAL CREDIT TO AZERBAIJAN

Baku, May 30 (AzerTAc). Deputy Prime Minister of Azerbaijan Abid Sharifov and Vice President of Japan International Cooperation Agency (JICA) Yoshiisa Ueda signed in Baku a credit agreement on the project of water supply and sewerage system.
According to the agreement, the government of Japan allots 344 mln dollars preferential credit for reconstruction of water supply and sewerage system of Shirvan, Salyan, Khachmaz, Khizi, Gobustan, Neftchala, Naftalan, Yevlakh and Barda regions.
Mr. Sharifov underlined that government of Azerbaijan attaches high significance to cooperation with Japan. He noted that the government of Japan finances various projects in Azerbaijan. Abid Sharifov stressed particular role of visits of President Ilham Aliyev to Japan.
Japan ambassador to Azerbaijan Oki Masamitsu underlined that government of Japan keens to implement various projects in the country. He noted that the government also intends to carry out numerous projects in Azerbaijan in the fields of human resources and ecology.
JICA Vice President noted that this project will give impetus to development of socio-economic area of the country.
The loan has a 30-year term, including a grace period of 10 years with interest rate set at 1.4% per annum.