Azerbaijan masters third of World Bank’s active portfolio
Azerbaijan, Baku, Oct 12 /Trend A.Akhundov/
Azerbaijan has been a member of the World Bank since 1992. During that period, the World Bank allocated $3.13 billion in loans and grants from the International Development Association (IDA) and loans from the International Bank for Reconstruction and Development ( IBRD)to implement 44 projects in Azerbaijan, the bank's Baku office told Trend on Friday.
About 75 per cent of the funding was from two main areas - transport (48 per cent) and water and sewer services (22 per cent).
Other sectors are in public administration and law (five per cent), agriculture, fishing and forestry (nine per cent), Energy and Mining (five per cent) and financial services (three per cent).
Over 61 per cent of the current active portfolio of the World Bank in Azerbaijan accounts for transportation, 22 per cent the water sector, five per cent in agriculture, fisheries and forestry and eight per cent in public administration, social development and protection and urban development.
"The current portfolio consists of 17 active projects and general obligations on them reach $2.264 billion, 66 per cent of which have not yet been mastered," the bank said.
Six active projects financed under the IDA, are covering virtually every sector, while the portfolio of IBRD (11 projects) focused mainly on infrastructure sectors.
The portfolio of Trust Fund of the bank in Azerbaijan which consists of six active projects, stands at $7.8 million.