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World Bank calls to establish mechanism to regulate activities of rural communities in Azerbaijan

Business Materials 18 July 2011 20:59

Azerbaijan, Baku, July 18 /Trend, N.Ismayilova/
As part of the Azerbaijan Rural Investment Project (AzRIP), the World Bank (WB) aims to support creating a mechanism to regulate the activities of rural communities, the director of AzRIP Subhan Askerov said, making a speech at the 3rd National Investment Conference of Communities.
"We want to play an important role in improving relations between communities and potential donors in Azerbaijan. As part of a two-day conference, it is planned to conduct a comparative analysis, as well as to bring potential beneficiaries closer to potential donors," said Askerov.
According to him, creating a mechanism capable of uniting communities would facilitate the issue of solving their problems.
According to MP Govhar Bakhshiyeva, the project contributed to resolving several problems with the construction of roads, water utilities, which positively affected the lives of people in the country's regions.
The Deputy Chairperson of State Committee on Women, Family and Children Sadagat Gahramanova said the project promotes women's entrepreneurship in the country. She said better coordination between municipalities and businesses contributes to improving living standards of families and bringing business into line with the market economy.
A loan agreement on the AzRIP project was signed on Sept. 23 in 2004 and took effect on Dec. 29 in the same year. The project costs $21.1 million. A total of $15 million falls to loan of the International Development Association, $3.3 million - grant of the Japan government and the remained part - $1.250 million to the Azerbaijani government and beneficiaries (communities).
The Azerbaijani government and World Bank signed a loan agreement worth $21.5 million on extra financing the AzRIP in April.

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