WB reviews IDP economic development support project in Azerbaijan
Azerbaijan, Baku, June 24 / Trend N.Ismayilova /
The World Bank mission headed by Johanna de Bere is on visit to Azerbaijan to review the IDP Economic Development Support Project (IDP EDSP), the World Bank (WB) Baku office reported.
According to information, the mission will stay in Baku until June 28.
The cost of the project's first phase is $12.6 million, of which $11.5 million will be allocated by the WB. Contrary to practice, project funds were introduced a year earlier, but 50 out of the 200 micro-projects on infrastructure were left complete due to inflation. Their implementation demanded additional funds.
Only $24.19 million was allocated to finish the project, of which 9.6 million SDR ($15 million) fell to the WB, and $8.69 million (including VAT at $3.69 million) went to the government.
As of mid-August 2010, $4.5 million of the $15 million allocated by the IDA for the project's additional funding were mastered. Project completion is scheduled for Dec. 31, 2011.
Under the project, 108,000 IDPs will receive benefits.
The WB allocated a total of three credits to support Azerbaijani IDPs. The WB allocated the first loan for $10 million in 2001. These funds financed 192 micro-projects for infrastructure rehabilitation in areas where IDPs live, which funded roughly 170,000 people. In 2009, 1,700 families (6,500 IDP) were provided with housing in new settlements in Azerbaijan.