Baku, Azerbaijan, Jan. 24
By Azad Hasanli - Trend:
The Azerbaijani government and the World Bank (WB) started negotiations for funding increase, the bank's local office told Trend.
"At this stage, we conduct pre-consultation and it is too early to talk about the financial parameters," the office said. "The negotiations may take several months, as a result of which an action plan will be developed."
As the negotiations at an early stage, the specific areas of cooperation are not defined yet, said the office.
"Credit resources can be presented as to finance investment projects and to support the state budget and reforms. Cooperation format can be different," the office added.
At the same time, the bank excluded the possibility of concessional lending resumption to Azerbaijan through the International Development Association (IDA), which is a part of Bank's group.
It is related with the economic development of Azerbaijan, including per capita income, which is one of the main indicators for granting concessional loans, which went beyond the criteria for IDA countries, the office explained.
Currently, Azerbaijan receives loans under the terms of the International Bank for Reconstruction and Development.
The countries with GDP per capita of not more than $1,215 [criterion for 2015] have the right to obtain IDA loans. In 2015, GDP per capita in Azerbaijan amounted to $4 268.7.
Azerbaijan joined the WB in 1992. During the cooperation period WB allocated over $3 billion to the country to implement more than 50 projects.
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