TODAY.AZ / Business

New project on Azerbaijan to be submitted to WB board of directors

21 February 2005 [11:59] - TODAY.AZ
The Board of the Directors of the World Bank intends to implement a project on Defense of rural areas, Baku Office of the WB told Trend.

Agi Kiss, the project manager, will visit Azerbaijan in this respect.

Under the visit to last by 17 March, Kis will be involved on appraisal of the project. He will arrange relevant meetings at the Ministry of Ecology and Natural Resources, as well as relevant Ministries and Committees. After the completion the project will be presented to the WE Board of Directors for approval. The implementation of the new project is linked with the establishment of 2 new national parks (Shahdag and Ordubad) and efficient use of natural resources in the country. The WB will allocate $8, credit under the project with budget of $17-18m.

The Global Ecological Fund established with patronage from the international institutes will allocate a $5m grant. The Azerbaijani government will allot a definite part of the budget.

At present the WB is involved in financing 16 projects in the county. The implementation of 2 new projects will be launched shortly. The total budget of 18 is equal to $630m.


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