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Approval Date of WB Partnership Strategy with Azeri Government Fixed

Business Materials 16 November 2006 15:03 (UTC +04:00)

Approval of the World Bank partnership strategy with Azerbaijan intended for 2006-2009 has been scheduled to take place in the Board of Directors on 7 December. All documents have already been submitted for the consideration by the Board of Directors, a Government source informed Trend.

All discussions have already been completed. Meetings were held with the Government of the country and private sector.

Irrespective of the delays on the approval of the Country's strategy, work on the projects included in the strategy has been done. Three projects have already been confirmed within the strategy, on reorganization of the health system, the court system and agriculture. The World Bank (WB) confirmed that it would allocate $100.5 mln for the financing of the projects.

The gross cost of the strategy is estimated at $1.250 bln, with the major finance being at the expense of the International Bank for Reconstruction and Development.

Over the 4-year validity period of the Strategy, the WB intends to allocate a large sum for road construction, more than $500 mln. These projects will be financed in accordance with the terms of the International Bank for Reconstruction and Development. The privileged credits are expected to be allocated for the improvement in the systems of education, health, law enforcement bodies, modernization of the accounting standards, reconstruction of irrigation-drainage system and improvement of the water supply.

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