WB partnership strategy with Azerbaijan to be discussed

Business Materials 31 March 2006 14:03 (UTC +04:00)

Partnership strategy of the World Bank (WB) with Azerbaijan will be discussed at the WB Directors Council meeting in April May, sources in the government told Trend. The strategy plan has already been reviewed and approved by the bank. Only a number of formalities are left.

Approximate cost of the projects is defined and it will be clarified in the course of their preparation. In general, Azerbaijan will receive $1,2bln for the strategy realization (in 2006-09). International Bank for Reconstruction and Development (IBRD) in comparison to the International Development Association does not restrict the amounts of the financing. For example, the road building project demands $500m, although the bank is ready to allocate more finances to it.

The amount of annual beneficial credits for the country will be defined by the bank. $70-80m of beneficial financing are designated for the 2006 financial year (that will end on June 30, according to WB), though this figure is expected to decrease in the coming years. Three beneficial projects are expected to be adopted in this financial year- reformation of the judicial-legal system, healthcare system and agricultural development.