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Average Assessment of Rural Loan Project to be Publicized at Large Conference

Business Materials 28 November 2007 17:59 (UTC +04:00)

Azerbaijan, Baku / corr Trend I.Khalilova / the World Bank held a medium term assessment into the project on Azerbaijan Rural Investments (AzRIP) with the budget of $21.1mln, which will be presented to the large conference Imishli on 11-12 December, Rasim Veliyev, the General Director of the State Agency for Rural Credits at the Agriculture Ministry, said.

Attending the event will be the economic bloc led by Artur Rasizade, the Azerbaijan Premier, as well as WB experts. The event is likely to coincide to the arrival of WB Vice President to Baku.

According to Veliyev, similar event was held in Saatly in 2006. They are held in regions in connection with the participation with the communities involved in the project.

"The estimation show god tendency in term of development of communities, which develop business plans on projects and carry out designing and bids," he said.

The implementation of 170 infrastructure projects out of 450 is complete.

AzRIP covers 21 regions in the Nakhchivan Autonomous Republic (NAR), Shirvan and Mugan-Salyan regions of Azerbaijan. The project is proposed to expand to 21 more regions. The assessment mission of the WB is expected to visit Baku to assess the project at the beginning of December. The WB may allocate $15 or $20mln, Valiyev considers.

The loan agreement by AzRIP was signed on 23 September 2004. The project came into force on 29 December 2004. The total cost of the project constituted $21.1mln. There are plans to complete the project by May 2009.

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