Azerbaijan ready to grant $100M loan to Pakistan

Sat 20 Oct 2018 07:05 GMT | 11:05 Local Time

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Azerbaijan is ready to allocate Pakistan a loan of $100 million to address the country's energy issues, Pakistani media reported.

The offer was made by Ambassador of Azerbaijan Ali Alizade during a meeting with Pakistan's Minister for Information and Broadcasting Chaudhry Fawad Hussain in Islamabad, according to Trend.

Ali Alizade also showed Azerbaijan’s keen interest to strengthen cooperation with Pakistan in the fields of media and information.

Welcoming the Azerbaijani ambassador’s offer and interest to resolve Pakistan’s energy issues, Hussain said that Pakistan would also like to enhance cooperation with Azerbaijan in tourism, media and information sectors.

According to the State Customs Committee of Azerbaijan, the trade turnover between the two countries amounted to $8.34 million in January-September 2018. The bulk of the turnover fell on Pakistani exports to Azerbaijan. Compared to the same period of 2017, trade turnover has increased by 22.46 percent.

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