WB TO PRESENT FIRST TRANCHE OF CREDIT FOR DEVELOPMENT OF POST SYSTEM IN AZERBAIJAN
The World Bank (WB) will preset the first tranche of the credit for the development of post system in Azerbaijan in October. The Ministry of Communications and Information Technologies of Azerbaijan told Trend the sum of the installment is still to be determined.
The Ministry said that the funds will be allotted by stages depending on the credit project. Following the implementation of the project Azerpocta State Enterprise will receive relevant status and will be included in the national payment system for implementation of financial and banking services. As a result of measures taken under the project stipulate opening of 1000 new jobs.
В"This is an expended project which envisages announcement of 5-6 tenders,В" the Ministry said.
The 3-year project was implemented under the State Program on development of communications and telecommunications in Azerbaijan in 2005-2008. The project with the budget of $17.5m will be financed by the WB credit for $12.25m, and the Azerbaijani government ($1m t be allotted by the National Bank of Azerbaijan and $6m by the Ministry of Communications and Information Technologies).