WB, Azerbaijan mull over new agricultural investment project
Baku, Azerbaijan, Feb. 4
By Azad Hasanli - Trend:
World Bank's monitoring mission is in Azerbaijan regarding the Second Azerbaijan Rural Investment Project (AzRIP-2), the Baku office of the bank told Trend.
"The mission headed by Daniel Owen, the bank's leading expert on Social Development, will be in the country until the end of the week [Feb. 7]", the office said.
The office also noted that meetings with the World Bank partners in Azerbaijan will be held within the framework of the mission.
The implementation of 1270 micro projects is planned within the framework of the AzRIP-2 project.
As a result of this, 3.5 million people will get benefit from the investment project by the autumn of 2018, according to bank's experts.
A credit agreement was signed between the Azerbaijani government and the International Bank for Reconstruction and Development (IBRD, a part of the WB group) on AzRIP-2.
The project is scheduled to be completed on Sept. 30, 2018.
The project's cost is $53.6 million, $30 million of which will be given by the IBRD, $23.6 million - by the Azerbaijani government due to the participation in the project.
Additional $50 million were allocated within the framework of the additional financing.
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