Azerbaijan, Baku, July 21 / Trend I. Khalilova /
The World Bank's International Development Association (IDA) has decided to continue preferential funding of Azerbaijani projects in 2011, the WB Baku Office told Trend today.
"About $73 million were allocated for preferential financing of Azerbaijani projects by the WB, whereas about $70 million were allocated in 2009 and 2010," the office said.
Azerbaijan received access to concessional financing next year, as donors are funding a three-year IDA program that will conclude in 2011 - the final year of the fifteenth cycle of financing.
The issue of granting Azerbaijan concessional loans in 2012 will be reviewed by the IDA after the commencement of the sixteenth cycle.
Countries where the GDP per capita does not exceed $1,280 are subject to such review criteria.
Azerbaijan has already exceeded this level of income, which was established by the WB as the main criterion for receiving IDA concessional loans. This year, the country expects to obtain financing on commercial terms only. In Azerbaijan, the income per capita last year was $5,403.90.
The WB has cooperated with the Azerbaijani government since 1992. The bank has funded 52 projects worth $2.7 billion.