World Bank checks Azerbaijan's rating to grant access to lax credits
The World Bank plans to approve a new strategy for the banks partnership with Azerbaijan (2006-09) within tow months, Azeri governmental officials told Trend quoting Donna Dowset-Coirolo, regional director for South Caucasus, World Bank. This may occur upon checking Azerbaijans rating, which is habitual for countries acquiring WBs mixed credits. Last year Azerbaijan was granted access to both IDA and IBRDs credits, preceded by WBs lax credits only.
Based on the estimation of the countrys financial and economic indices, WB defines amount of lax credits to issue this country.
According to the bank-defined rating, in fiscal year 2007 Azerbaijan may receive up to $60-70mln from International Development Association. Alongside improvement of economic conditions in the country, amount of lax credits are reduced. In fiscal year 2006 Azerbaijan was granted an access to $80-90mln credits.
During her visit, which lasts till May 21, Ms Dowset-Coirolo will hold talks in various ministries and agencies, and further WB will revise lax credits amount for Azerbaijan for the year 2007. The governmental officials said also the country is not limited in acquiring credits from IBRD.