Azerbaijan, Baku, November 29 / Trend, N. Ismailova /
In a query to the World Bank (WB), the Government of Azerbaijan has asked it to extend the period of implementation of the second phase of the agriculture development and crediting the adapted programme for another four months, the WB Baku Office reported on Tuesday.
The second phase of the adapted programme should have ended in February 2012, but the Government asked the WB to prolong its implementation till the end of June 2012, the Office said.
It is necessary to prolong the project as a decision was taken under the second phase that preparatory works for the project's third phase will have to be carried out.
"These works will be done at the price of surplus money formed as a result of the growth of the SDR exchange rate to US dollar. Preparatory works for the third phase are now underway. However some parts still need to be settled," the WB Office reported.
The Government of Azerbaijan and the World Bank signed a credit agreement on the second phase of the agriculture development and crediting the adapted programme in the fall of 2006. The project will help increase farmers' incomes and productivity of agricultural yield. The project's second phase has been in place since 2007.