WB to review project of strengthening potential of state investments in Azerbaijan
Azerbaijan, Baku, Feb. 13 / Trend N.Ismayilova /
A mission of the World Bank (WB) will make a review of the project aimed at strengthening potential of the state investments in Azerbaijan, the WB Baku Office told Trend on Monday.
"A mission led by head of the working group Elizabeth Wang will be in the country on Feb 13-17," the office said.
The project to strengthen the capacity of state investment was approved in June, 2009 and came into force in November, 2009.
Project completion is scheduled for late March, 2014. The total cost is estimated at $10 million. The WB approved a loan for its implementation to the amount of $8 million, and the rest falls to the government of Azerbaijan. The WB's loan funds have been allocated under the terms of the International Development Association (IDA) for 20 years with a ten year grace period. As of early September 2011, $2.2 million from funds provided by the bank were used.
The main objective of this project is to improve the efficiency and quality of preparation and execution of investment projects in key priority sectors, especially in the infrastructure sector.