Date of adoption of Azerbaijan-WB partnership strategy defined

Business Materials 28 June 2006 13:33 (UTC +04:00)

The adoption of a strategy on partnership between Azerbaijan and the World Bank (2006-2009) at the Board of Directors of the bank was scheduled for 7 September, the WBs Baku Office told Trend.

In accordance with the estimation of the members-countries of the International Agency for Development (IAD), the privileged loan for 2007 amounts to $79.4m. The cost of the strategy is estimated to $1.2bn. The majority of the funds was allocated by the he International Bank for Reconstruction and Development (IBRD), which did not restrict the amount of financing.

$70m had been designed for 2006 FY, while the country succeeded to receive $105m in the end for three projects at the expense of the IAD agriculture development and crediting, reforms in legal system and health system.