WB to revise realization of its project in Azerbaijan
Azerbaijan, Baku, Nov. 25 / Trend N.Ismayilova /
A mission of the World Bank will visit Baku to overview the WB project on staff potential improvement in governmental agencies of Azerbaijan involved in large infrastructure projects (Public Investment Capacity Building Project), the WB Baku office reported.
The mission to be headed by Project Manager Elisabeth Lang will arrive in Baku on Nov.29 and stay until Dec.11.
The project is estimated at $10 million. WB endorsed a $8 million IDA loan for the "staff" project with period of 20 years and grace term of 10 years. The finances are allocated through the International Development Association (IDA). The rest $2 million fells to the Azerbaijani government.
As of mid-Sept. 2010, $1.08 million of the total fund allocated by the IDA has been spent and $7.12 million remained unused. Workshops within its framework have been launched in September and November. In addition, the official website of the project, which provides information about upcoming seminars and trainings, has been launched.
The main objective of the project is to improve the quality and efficiency of preparation and implementation of investment projects in key sectors, especially in infrastructure.
Azerbaijan is a member of the WB since 1992. During the period of cooperation the bank approved loans worth $2.5 billion for the country.