Azersu OJSC pays off its debt to World Bank

Interest-bearing loans and debt obligations of Azersu OJSC amounted to 255,329,000 manats ($150.19 million) as of January 1, 2023, down 18% compared to 2022, Report informs, citing Azersu’s financial report.

During the reporting period, Azersu paid off its debt to the World Bank as the company paid back 3.84 million manats ($2.26 million) of debt to the Bank.

The debt of the joint-stock company to the Ministry of Finance increased by 8.3% to 160.81 million manats ($94.6 million), the debt to the German state bank KfW decreased by 10.1% to 52.76 million manats ($30.58 million), the debt to the French corporate and investment bank Natixis decreased by 18.4% to 26.50 million manats ($15.56 million), the debt to the Asian Development Bank (ADB) decreased by 7.9% to 15.25 million manats ($8.98 million).