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WB Allots $15mln to Azerbaijan

Business Materials 12 March 2008 10:23 (UTC +04:00)
WB Allots $15mln to Azerbaijan

The World Bank (WB) decided to allot an additional loan in the sum of $15mln to Azerbaijan for the needs of IDPs, Gazeta.ru cited ITAR-TASS.

According to the WB, the key purpose of the project is to promote improvement of living conditions and opportunities for social and economic integration of some 150,000 Azerbaijanis who became IDPs as a result of the conflict with Armenia.

The additional financing is intended for extension of the project and for paying for the cost of implementation.

The funds will be allocated under preferential terms over 35 years with a possible 10-year delay in paying it back.

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