Azerbaijan, Baku, July 21 / Trend , N.Ismayilova/
The World Bank (WB) plans to endorse in the implementation of five new projects in Azerbaijan in 2010, Head of the WB Baku Office Gregory Jedrzejczak said on July 21.
"The government has yet to formally submitted projects for 2010, but we forecast five projects to be implemented," Jedrzejczak said.
This year the bank launched only two projects and 11 projects last year, he said.
"It is necessary to take into account the extent to which the bank is ready to finance, as well as how the country is ready to use the money," Jedrzejczak said. "Moreover, a sufficient number of projects await implementation at the moment and it also necessary to decide on which projects how much funds will be allocated."
In addition, in September, it is expected to review the portfolio of the bank on the projects that have been approved, but their implementation has not started yet.
Since the beginning of the WB cooperation program with the Azerbaijani government in 1992, when became joined the bank, the bank has funded 52 projects worth $2.7 billion.
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