Cost of 2nd phase of agriculture project in Azerbaijan to make $69mln, WB assures
The values of the second phase of agriculture crediting and development project in Azerbaijan, according to the preliminary negotiations between Azerbaijan and World Bank, will make up $69mln, Trend reports, citing sources in the government. This will make the country`s participation share in the project approximately 14.5% ($10mln). The government is suggesting to decrease the project value to $45mln, $40mln of which will come from WB, and the rest $5mln. as grant.
Final evaluation of the project will take part in mid-April. As compared to the first phase of the project, part of the credit ($15mln) will be provided on commercial conditions of the International Bank for Reconstruction and Development project.
They are designed for the medium level agricultural businesses. Commercial banks would be invited to take part in financing of such enterprises.
Expansion of information consulting services, development of private and state veterinary services, modernization of the system of agricultural researches and project supervision can be defined among other parts of the project. Beneficial credits would be allocated for the credit union`s support, while small business entities would be supported by grants.