Azerbaijan, Baku, Feb. 27 / Trend , S.Babayeva/
Azerbaijan has launched a new project backed by the International Fund for Agricultural Development (IFAD). Presentation ceremony took place on Feb. 27. Azerbaijani Agriculture Minister Ismat Abbasov was attending.
"The project aims to develop the north-western regions of Azerbaijan and increase incomes there through development of agricultural production," IFAD Director for Azerbaijan Abdulkarim Sma said.
The project on development of north-western regions of Azerbaijan consists of four components: the rehabilitation and participatory management of irrigation systems ($20.8 million), agricultural development ($3.8 million), financial services and assistance to businesses ($4.9 million), project management and coordination ($2.6 million).
The project will be implemented within 5 years. Its total cost is $32.3 million. Of these, $17.2 million is provided by the IFAD, $13 million - Azerbaijani Government, $1.6 million - beneficiaries, and $500,000 - financial institutions.
The project aims at improving living conditions of rural populations and food security in four regions - Shamkir, Gazakh, Tovuz and Agstafa.
Project on development of north-eastern regions of Azerbaijan (North Development Project) is being realized to improve housing conditions of 15,012 households. Secondary and tertiary irrigation is being provided in the Absheron, Siyazan, Davachi and Ganja, marketing activities are being held to reduce poverty.
The project cost is estimated at $25.1 million dollars. The IFAD allocated over $12 million.
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