WB develops next stage of Agriculture Development & Crediting project

Business Materials 24 January 2006 16:06 (UTC +04:00)

The World Bank (WB) develops next stage of the Agriculture Development and Crediting project, financing in cooperation with the International Fund for Agriculture Development (IFAD). The work is carried out by the WBs specialists led by Frauk Yungblut, Razim Valiyev, the Director General of the State Agency on Agricultural Loans under the Agriculture Ministry, told Trend.

Azerbaijan and WB signed the agreement on the implementation of the project in 1999, while the implementation started in the second quarter of 2002. The bank allocated $33.6m for the implementation of the first stage. The 10-year project is estimated at $100m.

The project envisages registration of the farm-property, establishment of regional departments on registration of lands and crediting of farmers economy. The first stage was over and the second one ($20m) was planned to start from 2006.

According to Valiyev, the organization carries out work on determination of the components of the second stage, especially, holds meetings with different high-ranking officials.