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Azerbaijan to evaluate opportunity of attracting additional WB funds in social sphere

Business Materials 13 November 2012 18:27 (UTC +04:00)

Azerbaijan, Baku, Nov. 13 / Trend A. Akhundov /

The Azerbaijani government will evaluate the possibility of attracting additional funds from the World Bank (WB) to operate in the fields of health and education, the government told Trend on Tuesday.

"We will examine the results of implementing the projects in the field of health and education," the government said. "If it is appropriate, we will start new projects with the World Bank."
Earlier, the implementation period of the WB project on reforming the health care system in Azerbaijan, to be completed by late 2012, has been extended until mid-2013.

The project was approved by the directors of the World Bank on June 29, 2006, and its implementation began in December 2006. The total project cost is $78.25 million, of which $50 million is allocated by the WB, while the share of the Government of Azerbaijan in the project is $28.25 million.

As of early October 2012, some $32 million of the funds allocated by the World Bank were used.

At present, the WB second project for the education development is being implemented in Azerbaijan. A system of strategic planning has been created in the Education Ministry and its departments. The cost of this project, approved in April 2008, is $45.4 million. Around $ 25 million falls to the share of the WB loan.

As of October 2012, around $11.6 million of WB funds were used. The project is planned to be completed on March 31, 2014.

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