USAID supports Azerbaijan's private sector
Azerbaijan, Baku, May 29 / Trend , N.Ismayilova/
U.S. Agency for International Development (USAID) begun to finance a new project to support the private sector of Azerbaijan in May.
The project will be implemented within the framework of an intergovernmental agreement of Azerbaijan and the United States to promote co-financing of projects in Azerbaijan, under which USAID in collaboration with the Government of Azerbaijan will fund programs in trade and investment, planning and expenditure management, private sector competitiveness and socio-economic development regions in 2009-2011.
The project estimated at $7 million and will be directed to regional development and agricultural sector. Its implementation will be carried out within two years.
The total budget for programs under the intergovernmental agreement, $is 45 million, of which $24.3 million will be provided by the Government of the United States, 20.7 million manats will be ensured by the Government of Azerbaijan.
On May 29, the official exchange rate is 0.8036 manat to $1.
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