Today in Baku, 8 December, a Grant Agreement was signed between the Government of Azerbaijan and the World Bank (WB) for the preparation of the accounting and audit project in the corporative and State sector (CAPSAP). The $895,000 grant was submitted in line with the PHRD Fund of the Japanese Government, Trend reports.
The Grant Agreement was signed by the Azerbaijani Finance Minister Samir Sharifov and Japanese Ambassador to Azerbaijan Tadakhiro Abe.
The project is expected to be confirmed in the first half year of 2007. The WB plans to allocate nearly $15-20 mln to finance the project in line with the International Development Association.