World Bank intensifies talks with Azerbaijan within preparation of new strategy of cooperation

Business Materials 25 May 2010 12:57 (UTC +04:00)

Azerbaijan, Baku, May 25 / Trend, N. Ismayilova /

World Bank Regional Director for the South Caucasus Asad Alam visited Baku from May 24 to 27 to prepare the Country Partnership Strategy, the Bank's Baku Office said.

"During the visit, the preparation of a new strategy ofhe World Bank (2011-2014 years) will be discussed, review of portfolio and current projects of the bank, implemented in the country and view exchange with the Government of Azerbaijan will be held," the Office said.

In September the World Bank (WB) is expected to approve a new strategy of cooperation with Azerbaijan (Country Partnership Strategy) covering four years.

ead of the WB Baku representation Gregory Yedzheychak said that the preliminary total program cost is $1 billion. The main idea of the bank is to continue the successful projects in the field of road construction and agricultural development.

The Bank is preparing to approve about five new projects in road construction (road Baku-Shamakhi), ecology(construction of deepwater outlet of sewerage flows from the Hovsani aeration station in the Caspian Sea), education (reform of higher education system), and is likely to continue a project on improvement of water supply and sewerage system through enlarging list of small cities.

In 2009 the Bank approved funding for two projects to improve roads Hajigabul-Bagramtepe and the quality to implement investment projects in key sectors, especially in infrastructure development, totaling $183 million. In 2008 funding of 13 projects worth $1,251 billion was approved. The budget strategy was distributed for four years during two years. The World Bank expressed its readiness to allocate Azerbaijan more than $1 billion more for the next two-year strategy (2009-2010).

The World Bank has been cooperating with the Azerbaijani government since 1992, when Azerbaijan joined the World Bank. The Bank has financed 52 projects worth $2.7 billion.