WB managing director to visit South Caucasus
Georgia, Tbilisi, Oct. 16 / Trend N.Kirtzkhalia /
World Bank (WB) Managing Director Ngozi Okonjo-Iweala will visit Georgia and Azerbaijan on Oct.17-21. According to the WB representative in Georgia, the main aim of the visit is to discuss the financial crisis' consequences in the Caucasus, search ways out of crisis and stimulate sustainable economic development.
During his visit, Okonjo-Iweala will meet with representatives of the government, civil society and the private sector in Georgia and Azerbaijan.
Azerbaijan joined WB in 1992. As for now, WB has financed 47 projects with a total cost of $2.5 billion in Azerbaijan. In 2008, bank financed 13 projects $1.251 billion. The WB 2009-2010 strategy is over than $1 billion on commercial terms via the line of the International Bank for Reconstruction and Development. In 2009, the IDA provided $70 million for Azerbaijan, which was distributed for two projects.
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