The World Bank has set the implementation of the second credit on Institutional Development Technical Assistance (IBTA-2), as well as the Program on Poverty Reduction Support Credit (PRSC).
Baku office of the WB told Trend Christos Kostopoulos, a senior economist of the WB, arrived in Baku on Monday and will stay till 31 August.
"An agreement on first PRSC, approved in the amount of $20m, is still to be signed,” the same source said.
The World Bank approved IBTA-2 on 19 June 2002 through allotting SDR 7.47m. ($9.45m) on standards of the International Association for Development. $1m will be approved by the Azerbaijani government for the project with the term of 4.5 years.
A credit agreement on IBTA-2 was signed on 17 October and adopted by the President on 1 November 2002. At present the directions for use of $5m saved under the project are being defined.