WB, Azerbaijan to negotiate new projects in early 2012
Azerbaijan, Baku, Nov. 4 / Trend , A.Akhundov /
The World Bank (WB) will begin negotiations with the Azerbaijani government early next year on the founding of new projects under the Country Assistance Strategy, the WB Baku office told Trend.
"These projects are the third phase of the adapted programme of development and agricultural credit, the second stage of the health development programme and of higher education expansion, as well as possible funding for additional road projects," the office said.
The bank plans to allocate $30-$ 50 million for the implementation of the adapted programme of development and agricultural credit and about $30-$40 million for reforming and improving the higher education system.
Further funding of education will be carried out through the International Bank for Reconstruction and Development (IBRD), because Azerbaijan now has no access to concessional financing from the International Development Association. The current cooperation strategy with Azerbaijan is designed for 2011-2014.
Azerbaijan has been a member of the World Bank since 1992. To date, the Bank has allocated Azerbaijan $2.9 billion in funding of 43 projects in Azerbaijan, due to which the country yield only to Turkey and Kazakhstan. The Bank's current portfolio in Azerbaijan makes up 20 projects worth $2.3 billion covering investments in transport, water and sanitation, agriculture and irrigation and health and education.