Azerbaijani gov’t allocates AZN 178M in subsidy for

Azerbaijani gov’t allocates AZN 178M in subsidy for Azersu

23:26 03 October 2017 Read: 922

Azerbaijani gov’t allocates AZN 178M in subsidy for Azersu

Upon the orders of Azerbaijani president dated January 13, 2017 and March 17, 2017, AZN 149.5 million and AZN 14million have been allocated in subsidy for Azersu OJSC.

According to Azersu OJSC’s consolidated financial statements for 2016, the subsidies are planned to be directed to construct infrastructure projects and improve water supply system.

Moreover, upon the order of the Cabinet of Ministers dated April 18, 2017, a financial assistance in the amount of AZN 14.7 million has been allocated to Azersu OJSC for construction of infrastructure projects and technical maintenance purposes.

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