Azerbaijan spends 18 percent of financial services development project funds
Azerbaijan, Baku, Feb. 14 / Trend , N.Ismayilova/
percent, or $2.39 million, of the funds allocated by the World Bank (WB) for
financial services development project in Azerbaijan have been spent, WB said
in a message.
The project is worth $13.19 million, with $10.76 million still unused.
The project aims at facilitating implementation of poverty reduction strategy and economic reforms connected with development of regional and non-oil sectors. The goals will be achieved through improving financial architecture and increasing rural population's access to financial services.
Pace of the project implementation was accelerated from the first half of 2008.
The project was approved by the World Bank Board of Directors on Jan. 6, 2005. Completion is scheduled for June 30, 2009.