WB to expand territory of AzRIP project

Business Materials 18 July 2011 21:14 (UTC +04:00)

Azerbaijan, Baku, July 18 /Trend, N.Ismayilova/

The World Bank (WB) assessment mission has arrived in Baku to prepare the realization of the second Azerbaijan Rural Investment Project (AzRIP), the director of AzRIP Subhan Askerov said on Monday.

"The assessment mission on the second AzRIP project will hold talks with the Economic Development Ministry, Agriculture Ministry, Finance Ministry and the Cabinet of Ministers on the directions of the project, possible changes to the project," said Askerov.

He said the new project is a repetition of the first project, but unlike it, envisages to cover the whole country.

"The implementation of the first project completed in 2012, the second project is designed for 2012-2017. In addition, if the first project now covered only 45 districts, the second project aims to cover 56 districts," said the MP Govhar Bakhshiyeva.

She said by September, the Government and the World Bank will determine the amount of financing for the project.

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.