The visit of the World Bank (WB) delegation led by Sonia Braiovich-Bratanovich, the specialist of the bank, in relation to the allotment of credit for development of the Azerbaijani postal system is expected from 8 to 16 October. The objective of the visit is to fulfillment of technical stages within the credit, particularly on announcement of approximately 6 tenders, Trend reports.
The Commutations and Information Technologies Ministry noted that all legal procedure in this regard was completed. “The WB is expected to allot the first installment in October 2005, but the sum is not determined,” the Ministry said.
The funds on the project will be presented stage-by-stage depend on crediting project.
The Azerpocht State Enterprise will receive appropriate status and included in the national system of payments to render financial and banking services. The project also envisage opening of 100 new jobs.
The project will be implemented within the state program on development of communications and telecommunications in Azerbaijan for 2005-2008. Total value of the 3-year project comprises $17.5m. $12.25m credit will be presented by the WB, while the rest will be financed by the Azerbaijani government.