The Canadian state agency Export Development Canada (EDC) will grant the loan of four billion dollars for construction of a housing estate on the Khazar Islands in Azerbaijan conducted by the Avesta company, the financial adviser of the Canadian company PROJ-G.E.T Consultant Inc,, Sergey Gamayev, told reporters on Saturday in Baku.
The signing of a memorandum of understanding between Avesta and PROJ-G.E.T Consultant Inc concern is expected on Saturday.
PROJ-G.E.T Consultant Inc will act as the financial intermediary through which the credit line of EDC will be opened. PROJ-G.E.T Consultant Inc also is going to conduct engineering works within the project, which will cover, in particular, the creation of the municipal infrastructure of the project.
According to the vice-president of the consulting company, the Khazar Islands project creates a big impression, and the representatives of the company have become on-the-spot the witnesses of work that has been conducted within the project.
Canada to invest in Khazar Islands in Azerbaijan
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