WB strategy on partnership with Azeri gov't to be adopted in Mar
A strategy on partnership of the World Bank with Azerbaijan will be more likely adopted at meeting of the Board of Directors of the bank, though earlier it was to planned to adopt it in February. The Baku office of the WB said that at present a team of the bank was currently involved in the analysis of macro-economic situation in the country to inject updated data to a common document on strategy. After the strategy can be submitted to the Board of Directors, while earlier it will be considered by the WBs senior management.
In compliance with the strategy coordinated with the Azerbaijani government, over the subsequent 4 years (2006-2009) the bank intends to allocate $1.2bn for financing the projects. The bank will annually define the possible amount of privileged credits, to be approved for the country. The estimation depends on the macro-economic situation in
the country. In 2006 fiscal year, which is to end on 30 June for WB, has been defined as $70-80m in privileged financing, while further the proportion will reduce. In 2006 fiscal year it is planned to adopt three projects on privileged terms reformation of the legal system, health and agriculture system and agriculture development and crediting.
Under the first project it is planned to allocate $20m, second $40m, and third $25m. Combined credits will be approved for the last two projects, which means approval of additional financing out of the International Bank for Reconstruction along with privileged loan. At present work over project continues and the total financing by the WB for the projects will be defined after the estimation.