Azerbaijan, Baku, Sept. 27 /Trend, N.Ismayilova/
Azerbaijan Deposit Insurance Fund (ADIF) and German Development Bank KfW are aimed at continuing co-operation, ADIF executive director Azad Javadov said to a press conference on the results of the joint three-year project of ADIF and KfW on Tuesday.
"We intend to continue cooperation with KfW, especially considering that the Bank's loan in amount of five million euros for the joint project was granted for 40 years at a rate of 0.75 percent, as well as technical assistance worth one million euros," Javadov said.
According to him, the Bank and Fund intend to continue cooperation within the advisory services.
Financial projects manager at KfW Herald Hyugner said that the joint project with the Fund is one of the most successful projects in the country. According to him, since 1994, the Bank has invested over 210 million euros in the country.
According to Javadov, total deposits of individuals in the ADIF member banks today account for about 3.4 billion manat. Of this amount, 2.2 billion manat are insured deposits, which cover over 96 percent of depositors.
Official exchange rate on Sept. 27 is 0.7869 AZN/USD.