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Economic Agreements
Saudi Press Agency Published in Saudi Press Agency on 05 - 03 - 2005

The Kingdom of Saudi Arabia and Azerbaijan signed here today two agreements.
The first agreement stipulates extending a $ 67.5 million worth joint loan to Azerbaijan by the Saudi Development Fund in cooperation with the Islamic Development Bank (IDB) and OPEC fund.
The second agreement stipulates encouragement and protection of investments in the Kingdom and Azerbaijan.
On the Saudi side the agreements were signed by Minister of Finance Dr Ibrahim Al-Assaf, while on the Azerbaijani side they were signed by Foreign Minister Al-Marmidrov.
Dr Al-Assaf said the agreements would positively contribute to further enhancing economic cooperation between the Kingdom and Azerbaijan.
Dr Alassaf urged the Saudi and Azerbaijani private sectors to benefit from the second agreement.

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