TODAY.AZ / Business

World Bank mission on IDPs visits Baku

25 April 2007 [08:30] - TODAY.AZ
World Bank's mission on Internally Displaced Persons (IDPs) Economic Development Support Project visits Baku. This project aims to improve living conditions, enhance economic opportunities and prospects for social integration for IDPs.

World Bank's Permanent office in Azerbaijan told that the mission lead by Ellen Hamilton will be in Baku till May 5.

The delegation members and Azerbaijani government will have discussions on situation of execution of Economic Development Support Project The project was approved in 2005 and will be executed by the end of 2009.

The IDP Economic Development Support Project consists of two main components: micro-projects and micro-credits. The first component will finance the preparation and implementation of up to approximately 200 small-scale projects (average cost about US$50,000) to rehabilitate, repair or reconstruct basic small infrastructure, social infrastructure and temporary shelter facilities. Under the second component, which is completely funded from the counterpart funding resources, financing to Partner Lending Institutions will be provided for the extension of micro-credits to IDPs.

The project costs $12.6m, APA reports.


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