TODAY.AZ / Business

World Bank to allocate 11 million dollars credit to Azerbaijan

15 February 2005 [09:16] - TODAY.AZ
World Bank (WB) to allocate 11 million dollars credit to Azerbaijan.
APA was informed of it from Baku representation of the bank.

The credit is considered to be spent on improving social conditions of internally displaced people, implementation of micro-projects concerning this. Elen Hamilton-project leader of the bank was in Baku for several times for the purpose of preparing the project.

The matter of implementation of new project on completion of the project "Restoration of the freed territories" implemented by WB in Azerbaijan concerning the internally displaced people, was discussed and agreement was achieved during the visit. The new project in the total value of 11 million dollars will be discussed in the meeting of Board of Directors Council of WB for confirmation.

It must be noted, WB allocated main credit in the value of 20 million dollars firstly and 10 million dollars extra credit in 1999 to the project "Restoration of the freed territories" implemented in the country beginning from July, 1998 till December 31,2004.

The main aim of the project implemented by Agency of Restoration and Reconstruction of Territories, was to help the internally displaced people during Upper Garabagh conflict, resettling of population and improving their life conditions./APA/

URL: http://www.today.az/news/business/18545.html

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