Dec. 20 (Bloomberg) -- KfW Group, Germany’s state-owned development bank, agreed to lend Azerbaijan 102 million euros ($136 million) to finance water and sewage projects, the state water company Azarsu ASC said today on its website.
According to agreements signed today in the Azeri capital Baku, KfW will also give a 3.5 million-euro grant to Azerbaijan’s State Property Committee for property record projects.
Together with the governments of Azerbaijan and Switzerland, KfW is helping to finance a 195.4 million-euro project for water systems in two cities in the former Soviet republic, the bank said on its website last month. KfW has allocated 380 million euros for projects in Azerbaijan, Deputy Azeri Prime Minister Abid Sharifov said, according to Azarsu ASC.
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