BAKU, Azerbaijan, April 3. The World Bank's (WB) total loan amount for Azerbaijan exceeds $3.47 billion, Trend reports.
According to the WB's data, more than half of this amount ($2.87 billion) has already been allocated to the country.
The data showed that Azerbaijan actively leverages loans to implement its economic projects and infrastructure initiatives.
However, Azerbaijan also has an obligation to the lender in the amount of $1.18 billion.
To note, Azerbaijan and the World Bank have been cooperating for more than 30 years. The organization has supported 56 private sector development projects worth more than $500 million, resulting in the creation of about 4,000 jobs.