WB to allocate $90m of profit credits to Azerbaijan
Official talks will be held to discuss all 3 projects financed by the World Bank on May 11- 19, WB local office told Trend.
The given projects include; judicial system modernization project, healthcare system reforms and the second phase of the adopted program for development and crediting of agriculture.
The judicial project will cost $33, 6m - $20m of them will be provided by WB. The healthcare project` s cost will be $86m; $50m of them will be provided by WB. Whereas, the agricultural project would be financed via two lines. One involves financing from the International Development Association (IDA) in amount of $20m. IDA provides credits for 35 year term and 10 year possible delay with libor-2% rate. The total cost of the project is $42m.
In general, Azerbaijan may receive up to $90m of beneficial credits, $70m of them this year. Though, in the coming years, IDA will limit access to its resources, decreasing the total amount of credits from year to year.