Seco refuses to finance new infrastructural projects in Azerbaijan
Azerbaijan, Baku, June 4 / Trend , I.Khalilova/
The Swiss Government is planning to allocate $8 million to Azerbaijan in the framework of the strategy of activity to render technical aid to South Caucasus countries, head of the national program in the Swiss State Secretariat on Economic Issues (Seco) Naila Safrova.
"We try to keep this limit. The majority of funds were invested in rehabilitation of water and sewerage systems in Ganja and Sheki cisties," Safarova said.
The State Secretariat is interested in our projects are permanently enlarged in order to preserve the annual financing limit, she said.
"We have gradually deviated from financing of infrastructure projects on the basis of the decision the Board of Seco, adopted in 2005, because Azerbaijan receives large oil revenues, but the State Secretariat allocates grants," Safarova said.
Despite the fact that the decision was taken in 2005, the currently financed infrastructure projects will cover several years, so their implementation is still ongoing. In addition, long-term negotiations have been held on the water project, but Seco granted 10 million euros on its implementation, which are distributed over the years until 2012. Seco also continues to participate in the World Bank for registration of immovable property in Azerbaijan, which has provided about 900,000 euros. Completion of this project is expected before 2010-2011.
Upon completion of these projects, we will not longer participate in the infrastructure, but nonetheless, we are interested in the proposals of the Government of Azerbaijan on two pillars - macroeconomic policy and economic development and employment ", Safarova said.
In case of infrastructure projects, the portfolio will be filled with new projects in these two directions. This is planned to maintain the level of country's funding at the same level, where $2 million is owed by the Swiss Agency for Development and Cooperation, and $6 million by Seco.
The Swiss Cooperation Office for the South Caucasus operating in Azerbaijan represents two organizations - the Swiss Agency for Development and Cooperation (Swiss Agency for Development and Cooperation - SDC), which, in turn, is part of the Ministry of Foreign Affairs of Switzerland, as well as the State Secretariat for Economic Affairs (State Secretariat for Economic Affairs - SECO) is part of the Ministry of Economy of Switzerland. The office was opened in Azerbaijan in 2002 to assist Azerbaijan in carrying out economic reforms. This assistance focuses on the implementation of infrastructure projects, projects to support the development of the financial sector, promoting private sector development, supporting the Government of Azerbaijan to conduct macroeconomic policy.
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