On 15 January 2007 a technical mission of the Islamic Development Bank (IDB) will visit Azerbaijan. The Cabinet of Ministers informed Trend that the visit will be paid to review the implementation of the project on the construction of a social infrastructure for internally displaced people, which is financed by the IDB. The Bank experts are to review the agreement with a consultant, which is to be signed during the visit.
IDB experts are also expected to coordinate the terms of the tender and a list of contractors, which will be elected for the implementation of the construction work over the project.
The total value of the project is $14.54mln, with $10.27mln allocated by the IDB (7mln Islamic dinars), the rest - $4,27mln at the expense of the Government. The share correlation between the financing sources is 70.6% and 29.4%. In accordance with the terms of the credit agreement the loan is allotted for the term of 25 years with 7-year grace period, while payments for bank services comprise $592,000. The term of use of the credit expires on 30 June 2009. A credit agreement between IDB and Government of Azerbaijan was concluded in December 2005.
The project envisages the construction of 14 schools in two types (for 150 students and 198 students), 14 medical enterprises (hospitals, ambulances for doctors, medical assistance stations), as well as water supply pipelines, in Fizuli and Bilasuvar District and the places settled by internally displaced people.
The IDB technical mission will last till 22 January 2006.