WB, Azerbaijan ready to expand cooperation program
Azerbaijan, Baku, Feb. 3 / Trend , N.Ismayilova/
The World Bank is prepared to expand cooperation with Azerbaijan, former Regional Director to the South Caucasus Donna Douset Corollo said in Baku.
"On Feb. 2, we discussed a cooperation program with Artur Rasizase, but special attention was paid to realizing projects financed by the bank," Corollo said.
Corollo added that the cooperation will focus on strengthening staff potential.
"Upon the government's request, we can render technical assistance and hold training to improve the staff potential at governmental agencies involved in giant infrastructure projects," she said.
The WB also plans to increase financing for transport projects and supporting IDPs. A project is also being developed to purify polluted water in Hovsan, which flows into the Caspian Sea.
The WB has financed 45 projects in Azerbaijan worth over $2 billion. The bank allocated $1.251 billion to finance 13 projects in 2008.
The WB expressed its willingness to allocate over $1 billion to the country in the next two years. The loan will be issued under commercial conditions via the International Bank for Reconstruction and Development.
The WB stopped financing Azerbaijan under preferable conditions via the International Development Association, which only directs funds to the world's poorest countries, particularly in Africa.
Countries where GDP per capita is under $1,280 fall meet this criterion.
Azerbaijan increased the income level set by the WB as a key criterion to receive lax loans via the International Development Association. Income per capita was $5,403 in Azerbaijan in 2008.
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