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Turkiye grants $8M to Azerbaijan for joint forestry initiative

Turkiye grants $8M to Azerbaijan for joint forestry initiative
By Ahmet Kocak
Jan 12, 2024 11:11 AM

Turkiye will provide a grant of $8 million to Azerbaijan for the construction of a forestry training center and nursery facility

A grant agreement was signed between Turkiye and Azerbaijan on Dec. 25, 2023 in the capital Ankara, according to the Official Gazette published Friday.

According to the agreement, Türkiye will provide a grant of up to $8.3 million ( TL 250 million) to Azerbaijan within the scope of the “Turkiye-Azerbaijan International Forestry Training Centre and Nursery Facility” project.

Under the agreement signed between Turkiye’s Ministry of Treasury and Finance and Azerbaijan’s Ministry of Ecology and Natural Resources, the grant provided by Türkiye will be used to finance the project.

If the project cost is less than $8.3 million,  Azerbaijan will not claim the remaining balance. The construction firm, financed through a grant agreement signed by President Recep Tayyip Erdogan, will be selected through a tender process.

The criteria include adherence to Laws No. 4734 and 4735, with eligibility extended to Turkish-origin companies or Azerbaijan-Turkish partnerships.

These entities must have a minimum of 51% shares owned by Turkish companies and a track record of qualifying in tenders for similar projects conducted by the General Directorate of Forestry.

Source: Newsroom


Last Updated:  Jun 5, 2024 4:39 PM