Within the partnership strategy with Azerbaijan for 2007-2010, the World Bank (WB) is about to grant up to $250 mln. within the International Bank for Reconstruction and Development (IBRD) and Reconstruction annually.
Trend reports referring to the strategy prepared by WB, that the real volume of the crediting will depend on the joint financing with the Azerbaijan Government and the possible absorption (the capability to purposefully spend funds granted).
IBRD will finance in a way that allows taking into consideration the development of reforms in the sector at making any decision.
Up to 2005, WB financed Azerbaijan projects only on law conditions within the International Development Association (IDA). IBRD first credit for Azerbaijan was approved in May, 2005, the second one вЂ" in January, 2006.
Azerbaijan is currently on the way to turn to receive financing within IBRD from so-called IDA financing. It is proposed that taking into account great perspectives of growth, the assistance within IDA will be completed within the existing strategy.