USAID to allocate $16,000,000 for implementation of projects in Azerbaijan in 2008

He noted that this year NATO plans to implement four new projects in Azerbaijan in the socioeconomic spheres, aiming, in particular, at support of trade and investments, stability of financial sector and competitiveness of private sector.

Implementation of two projects, covering macroeconomy -Civil society and Communities Activity Development has already started in the regions.

According to Taylor, the figure will rise or remain changeless in 2009-2010.

"This will depend on the projects financing by Azerbaijani side", he concluded.

He also touched upon the projects, already implemented in Azerbaijan.
The volume of investments to small and middle business in the framework of Agricultural Competition Program, financed by USAID, has risen up to $20,000,000. The said program has been implemented since 2003 by initiative of President of Azerbaijan Ilham Aliyev and was aimed at the development of the country's agriculture and covered 127 small and middle entrepreneurs. Over 4,000 jobs opened in the framework of the program and the revenues from the sale of production exceeded AZN 130,000,000.

Taylor also stressed the important feature of the project which is its being aimed not only at raising investments and revenues from the sale of production but also raising competitiveness of enterprises on the local market.

He also noted that though the project has been completed. USAID will continue work in this direction.

USAID has invested $284,000,000 to Azerbaijan since 1992. The projects it finances are aimed at macroeconomic stability, raising expenses for communities, accelerating democratic processes and cover the sphere of education and public health.