Published in the Official Gazette: 250 million TL grant support from Turkey to Azerbaijan

The international agreement regarding the grant support signed between the Government of the Republic of Turkey and the Government of Azerbaijan within the scope of the “Turkey-Azerbaijan International Education Center and Nursery Facility Project” to be established in Jabrayil, Karabakh, has been published in the Official Gazette with the signature of AKP Chairman and President Recep Tayyip Erdoğan.

According to the agreement, Turkey will provide 250 million TL in grant support to Azerbaijan to be used in the financing of the project. In the event that the total project cost does not exceed 250 million TL, Azerbaijan will not be able to claim any rights to use the remaining balance.

The consultancy fee portion of the grant amount will not exceed 20 million TL. The contractor firm that will carry out the construction works in the project will be determined from among Turkish-origin contracting firms and/or Azerbaijan-Turkish partnership contracting firms in which at least 51 percent of the shares belong to a Turkish firm.

The grant agreement will enter into force on the date of receipt of the last written notification by which the parties notify each other that the necessary internal legal procedures for the entry into force of the aforementioned document have been completed.

News Source: İHA