TODAY.AZ / Business

Azerbaijan,WB to define new projects

19 September 2012 [11:36] - TODAY.AZ
The Azerbaijani government will determine new projects by late 2012 financed by the World Bank (WB), the WB office in Baku said on Friday.

"The government is considering proposals from various organisations and is choosing new projects for the next two years," the bank said. "We expect to receive an answer in November-December this year."

It was reported that the amount of World Bank funding for projects in Azerbaijan in the first two years of a four-year country strategy (2011-2014) will amount to $175.4 million. The lending programme for the remaining two years will be based on a report on the strategy's implementation which will be ready in autumn 2012.

The current strategy of cooperation with Azerbaijan is designed for 2011-2014. It is based on such priorities as strengthening the non-oil sector of the economy, including infrastructure development and agriculture.

Moreover, the bank will also focus on improving the effectiveness of social services, including health, education, social protection and water supply.

Azerbaijan has been a WB member since 1992.


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