The Azerbaijan government and the structures of the World Bank (WB) signed 2 agreements at the Finance Ministry. The first agreement signed with the International Development Association (IDA) on allotment of a $20m credit installment within the state program on poverty reduction and economic development, the Ministry told Trend.
The second one was signed with the International Bank of Reconstruction and Development (IBRD) on allotment of a $299,000 grant within the project on strengthening of electron-governmental purchase and sale. The agreements were signed by Avaz Alakbarov, the Azerbaijani Finance Minister, and Charles Griffin, the WB representative.
There are also WB-approved projects with unsigned credit agreements on electric transmission system ($ 48m) and environmental protection in rural places ($8m). The WB is currently financing 18 projects in the amount of $390m in Azerbaijan.