Parliament ratifies changes to agreements with Japan and German bank

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December 21, 2021 17:48 (UTC + 04: 00)

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By Sabina Mammadli

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

During the plenary session held on December 20, the parliament debated the bill “on the approval of changes to loan agreement No. AZB-P4 signed on May 29, 2009, within the framework of the project entitled” Water supply and sanitation in small towns “between Azerbaijan government and the Japan International Cooperation Agency”.

The project aims to rebuild the water supply and sanitation systems in Gusar, Khachmaz, Khizi, Gobustan and Naftalan.

The bill “On Approval of Amendments to the Financing Agreement of the Project” Establishment of Samur-Yalama National Park “under the Ecoregional Conservation Plan for the South Caucasus between the Azerbaijani Ministry of Finance and KfW ”was also discussed.

At the end of the discussions, the two documents were put to the vote and adopted.

Currently, Azerbaijan and Japan cooperate in different areas of the economy. Japanese companies in Azerbaijan work in the fields of oil and gas as well as agriculture. Note also 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 implemented various investment projects and advisory services in Azerbaijan.

The Azerbaijani Ministry of Finance and KfW signed a grant agreement for the establishment of Samur-Yalama Park in 2006. The grant totaled 2.55 million euros. Samur-Yalama National Park (SYNP) was established in 2012 under the “South Caucasus Environmental Program” with financial support from the German Development Bank (KfW) and international consultants.

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