Implementation of the project on development of the northeastern regions of Azerbaijan will start from 1st quarter of 2006, Razim Valiyev, the Director General of the Agriculture Credits Agency under the Agriculture Ministry, told Trend.
According to Valiyev, the fund for implementation of the project on improvement of housing conditions of over 15,000 families will be presented in early 2006.
The Agriculture Ministry and the International Fund of Agriculture Development (IFAD) signed the agreement on the project in July 2005.
The total value of the project is estimated at $25m. The credits will be spent on conduction of marketing studies in the regions Absheron, Siyazan, Davachi and Khizi to reduce poverty.
The project also envisages issue of medium-term credits in the total amount of $4.5m.