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IFAD started to prepare third project for Azerbaijan

Business Materials 3 August 2006 14:54 (UTC +04:00)

The International Fund for Agricultural Development (IFAD) has informed that Azerbaijani government about the beginning of the preparation of a new project for the development of the regions in western direction of the country, Trend reports quoting the Cabinet of Ministers of Azerbaijan. Yet the amount of the finance hasnt been defined, but as usual, the IFAD credits dont exceed $10-12 mln.

Recently IFAD started to realize the second project Development of north-east regions of Azerbaijan. The project covers the districts of Khizi, Siyazan, Devechi and Apsheron.

The project, on which the credit agreement was signed on 19 July 2005, amounts to $25.148 mln. Within the project, $10 mln will be directed toward melioration works, $6 mln creation of association of water consumers, $5 mln credit and the remaining part support of the working group.

The realization of IFAD project Agricultural development of mountainous and mountain regions, on which the credit agreement was signed on 27 November 2000, hasnt been completed yet. The project totals $10 mln, with $9 mln from IFAD and $1.5 mln from government and participating agricultural communities. Beginning from this year, the project will cover not only the districts of Lerik, Gedabay, Shahbuz, Gabala and Guba, but also Ismayilli and Dashkesen.

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