Date for Azerbaijan-WB Negotiations on 3rd Project on Educational System Re-forming Defined

Business Materials 18 February 2008 19:33 (UTC +04:00)

Azerbaijan, Baku, 18 February / Trend corr I. Khalilova / Official negotiations between the World Bank (WB) and the Azerbaijani Government on the 3rd project of the educational system reform in Azerbaijan were scheduled for 3 March, the WB Baku Office said on 18 February. The WB mission headed by the Senior Education Specialist Juan Manuel Moreno will visit Baku for negotiations.

The bank is ready to allocate a soft credit in the sum of $25 mln through the International Development Association for the implementation of the project [for 35 years with a grace period of 10 years under 0.75% interest rate]. However, the share of the Azerbaijani Government in the project will be specified during the negotiations. The project is expected to cost over $30mln.

The project envisages reforms in secondary education, pre-school education and vocational education.

That will be WB's 3rd credit intended for reforming the educational system in Azerbaijan, but as in the 2008 fiscal year the quota for soft financing in the education field will expire, the last credit may be allocated to improve the reforms in higher education. A special project is being developed in this connection, according to the WB Baku Office.

The educational project currently being developed is intended for the educational reforming program which was launched in 1999. The purpose of the program is to improve the education and fundamental change of the field. The total cost of the project makes up $20.99mln, with $18mln allocated by the WB. The project is planned to be closed by 31 March 2008.

WB's first credit in the sum of $5mln was allotted to Azerbaijan in 1999.