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AZERBAIJAN REFUSED FROM SAUDI DEVELOPMENT FUND LOAN FOR MODERNIZATION OF SCHOOLS AND RESTORATION OF HOUSES
Azerbaijan Business Center
Sept 8 2008
Azerbaijan
Baku, Fineko/abc.az. The Azerbaijan Republic Ministry of Finance has
rejected the Saudi Development Fund's proposals on development of
new modern schools and restoration of dwelling houses in the regions
that are frontier with Armenia, destroyed during Armenian aggression
in Karabakh.
The Governmental sources informed Fineko/abc.az that the Saudi Fund
suggested the privileged financing of projects focused on expansion
of the project of construction of five modern schools in Baku and
reconstruction of destroyed houses.
"Under general auspicious estimations, the Ministry of Finance has
rejected the proposals as the country does not need the additional
funds for that purpose," the source informed.
Earlier the Saudi Development Fund (SDF) project on construction of
5 secondary schools in Azerbaijan was completed successfully.
Construction of schools in Nasimi and Binagadi districts was carried
out by Azeraqrartikinti, in Khatayi district by Alibeyli, Yasamal
district by Azerkendtikinti, Surakhani district by Azersenayetikinti.
The project was financed from a $9.5 million SDF grace loan and $2.5
million from the government. Project completion is scheduled for late
2006. Each of the schools is designed for 1,296 pupils. They will be
computerized fully, equipped by swimming pools, sports and production
complexes, own drug-stores and workshop units.
Azerbaijan Business Center
Sept 8 2008
Azerbaijan
Baku, Fineko/abc.az. The Azerbaijan Republic Ministry of Finance has
rejected the Saudi Development Fund's proposals on development of
new modern schools and restoration of dwelling houses in the regions
that are frontier with Armenia, destroyed during Armenian aggression
in Karabakh.
The Governmental sources informed Fineko/abc.az that the Saudi Fund
suggested the privileged financing of projects focused on expansion
of the project of construction of five modern schools in Baku and
reconstruction of destroyed houses.
"Under general auspicious estimations, the Ministry of Finance has
rejected the proposals as the country does not need the additional
funds for that purpose," the source informed.
Earlier the Saudi Development Fund (SDF) project on construction of
5 secondary schools in Azerbaijan was completed successfully.
Construction of schools in Nasimi and Binagadi districts was carried
out by Azeraqrartikinti, in Khatayi district by Alibeyli, Yasamal
district by Azerkendtikinti, Surakhani district by Azersenayetikinti.
The project was financed from a $9.5 million SDF grace loan and $2.5
million from the government. Project completion is scheduled for late
2006. Each of the schools is designed for 1,296 pupils. They will be
computerized fully, equipped by swimming pools, sports and production
complexes, own drug-stores and workshop units.