The government plans to start the conversations on the second phase of development and crediting of agriculture in Azerbaijan. Governmental officials told Trend that the Wold Bank estimated the project in $43mln.
International Development Association (IDA) is going to issue some $20mln. First time the government was offered financing at tougher terms, which stipulate 35 ears of credit payments with 10-year postponement, but at Libor-2% rate. Todays Libor rate is 5%, so these funds are issued at 3% annual interest. Japanese government is going to issue a grant at $1.6mln. The rest of funds is provided by the government.
WBs experts also made some revisions of effectiveness of execution of Phase 1 in amount of $33.6mln. These revisions did not satisfy the government and it is currently revising the results. WB officials say the project progressing shows a 5-6 effect, although Azeri government considers such an effect very low.
The project envisages expansion of information and consulting services, promotion of private veterinary clinics and governmental veterinary services, upgrade of agricultural studies and project management as whole.