UN projects realized in Azerbaijan worth over $96M (UPDATE)

Business Materials 4 May 2016 17:07
Various UN structures have implemented almost 50 projects, worth $96.6 million, until today in Azerbaijan.

Details added (first version posted on 14:28)

Baku, Azerbaijan, May 4

By Azad Hasanli - Trend:

Various UN structures have implemented almost 50 projects, worth $96.6 million, until today in Azerbaijan, said Sahil Babayev, Azerbaijan's deputy economy minister.

He made the remarks May 4 at a seminar titled "Fostering Inclusive and Sustainable Industrial Development in the New Silk Road Economic Belt" in Baku.

"Currently, the United Nations Development Program (UNDP) is implementing 10 projects worth $18.9 million in the country," added Babayev.

He also said Azerbaijan and the United Nations have already agreed on the UN-Azerbaijan Partnership Framework (UNAPF) for 2016-2020, within which it is planned to raise $78 million, including $31 million from various UN structures.

Babayev added that the UNAPF is aimed at supporting the development and diversification of economy, increasing institutional capacity and protecting environment.

Speaking about the current project for fostering industrial development in the New Silk Road Economic Belt, Azerbaijan's Deputy Economy Minister Niyazi Safarov said the project is aimed at expanding the economic cooperation among the Silk Road countries, in particular, in the industry.

The Economy Ministry is ready to support the project's implementation, added Safarov.

Olga Memedovich, a representative of the UN Industrial Development Organization's (UNIDO) Office of Strategic Planning and Coordination, said for her part that the project's cost is estimated at 2 million euros.

It is the initial amount that will be directed at collecting data on transport corridors, logistics centers and industrial parks in the Silk Road countries, she explained.

The project covers six countries - Azerbaijan, China, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan, but its scale may be expanded in the future.

Azerbaijan is a UN member since 1992.