Today.Az » Business » Azerbaijan declared WB's largest borrower
18 September 2008 [09:16] - Today.Az
The World Bank Group extended loans, credits, grants, equity investments, and guarantees totaling nearly US$8 billion to Central Asia this fiscal year that came to an end on June 30, 2008.
This is a 33% increase billion over the previous year, demonstrating the institution’s increasing role in the region.
During the fiscal year, $489 million went to effective governance, $479 million to construction of road infrastructure, $424 million to trade and $405 million to construction of railways.
Azerbaijan ($1.267 billion) was one of the largest borrowers that fiscal year, followed by Turkey ($1.203 billion) and Ukraine ($690 million).
Besides, Uzbekistan borrowed $68 million, Georgia $58 million, Kyrgyzstan $31 million and Moldova $30 million from the World Bank during that fiscal year.
/APA/
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