Terms of credit allocated to Azerbaijan by ADB for fight against COVID-19 unveiled

A credit agreement has been signed with the Asian Infrastructure Investment Bank (AIIB) for 10 years 

At the beginning of November, an agreement has been signed by the Azerbaijani Government and Asian Development Bank (ADB) on allocating USD 250 mln credit to Azerbaijan in order to assist in the implementation of Azerbaijan's comprehensive plan to reduce the negative health, social and economic impacts of the COVID-19 pandemic, Qazet.az reports citing the Ministry of Economy of Azerbaijan.

Moreover, a credit agreement has been signed with the Asian Infrastructure Investment Bank (AIIB) for 10 years in the amount of 100 mln dollars at LIBOR plus 0.5%. The agreement has been signed by the finance minister Samir Sharifov on behalf of Azerbaijan and general director of the Bank Supi Teravanintorn on behalf of AIIB.