WB mission’s visit under completion

Business Materials 3 December 2005 14:50 (UTC +04:00)

The visit of World Bank (WB) mission led by expert Frauk Yungblut to Baku within the project on development and crediting of agriculture, financing by WB and the IFAD will be over on Saturday.

The key objective was to develop and estimate measures envisaged in the second stage of the project, the Azerbaijani Agriculture Ministry told Trend. The representatives of the bank held meeting with officials, particularly, Ismat Abbasov, the Agriculture Minister within the visit.

The agreement on implementation of the project between Azerbaijan and WB was signed in 1999, but implementation started only in the second quarter of 2002. The 10-year project costs $100m.

The project envisages registration of farmer’s property, establishment of regional registration and crediting departments. The fist stage has completed, while the $20m second stage is planned to start in 2006.