TODAY.AZ / Business

New cooperation strategy of World Bank can be approved in February

13 February 2006 [03:20] - TODAY.AZ
The government of Azerbaijan intends to attract $1.2 billion of credit within the framework of the cooperation strategy with the World Bank (WB) for 2006-2009.

As APA reports, the WB leading economist Christian Peterson, who ends his visit to our country this week, discussed the details of the new strategy with governmental officials.

As a result, the parties increased volume of initial credit means by 20% and brought up total volume to $1.2 billion for 4 years. Main part of funds will be allocated by the International Bank for Reconstruction and Development (IBRD) included in the WB group.

It is also informed that the government will direct approximately 90% of credit at funding of infrastructure projects including construction of roads, modernization of the water supply system and other fields, and the rest part of means will be utilized for realization of projects bearing reform character.

It should be noted that the new strategy is expected to be approved by the WB Board of Directors in February.


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