Signing of the agreement with the International Fund for the Agricultural Development (IFAD) on the project for the countryвЂ™s north-western regions development took place on 19 July at the Ministry of Agriculture. The agreement has been signed by the Minister of Agriculture Ismet Abasov from the Azerbaijani side, from the FundвЂ™s side вЂ" by the IFAD country manager Abdalla Rahman, Trend reports.
The amount of credit, envisioned under the agreement is $25 million. The period for the projectвЂ™s implementation is 5 years. The project will cover the north-western regions of Azerbaijan and will facilitate the improvement of the life standard of over 15,000 people. During two months after the contract signing the works will be launched.