Azerbaijan, Baku, 17 November /corr. Trend I.Khalilova / The visit of the World Bank Vice President for Europe and Central Asia, Shigeo Katsu, starts to Baku from 17 November to get familiarized with the macroeconomic situation in Azerbaijan and discuss programs of the future co-operation, WB Baku office said on 17 November.
Vice President of the bank already arrived in Turkey and Kazakhstan. His visit to Azerbaijan will be continuing by 21 November.
One of the goals of the visit is to attend the Ministerial conference on CAREC (Central Asian Regional Economic Cooperation) program, which will take pace in Baku on 20-21 November. WB is one of the participants of the CAREC program.
A number of documents is expected to be adopted within the conference. They include action plan on strategy of the development of transport corridors, plan of energy co-operation, action plan on the development of trade. Up to the moment of meeting of the ministers, also a conception on institutionalization of CAREC can be formed. This concept was approved at the last Ministerial conference, but a medium-term action plan must be developed to conduct studies for development of CAREC program.
At the end last year, the CAREC participating countries approved the program of assistance to trade and transport facilitation in the region, and at present analogous strategy is being prepared in with regards to energy. Azerbaijan made proposals for broadening regional co-operation between the countries in the field of tourism. At the initial stage, this proposal must be thoroughly studied by the institute of studies, established last year at the Ministerial conference in Dushanbe.
Currently Azerbaijan co-operates with the WB within the strategy adopted for 2007-2010. This strategy was renewed in summer of this year.
This was caused by the spending of finance, allocated for four years, became ahead of time. Thus, for financing of 13 projects, the World Bank already allocated nearly $1.251bln for a period of four years. As the additional financing in the period of the realization of strategy for 2009-2010, the WB will provide $1.2bln to finance ecological, road, energy projects, reforms of public sector and in the system of the highest and elementary education.
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