World Bank is operating some projects in Azerbaijan

According to the information given from the representative office of the bank, the execution of the project is realized by National bank and the Ministry of Finance.

It was also stated from the representative office that, at the same time for the purpose of beginning the execution of newly approved "Development of finance services" project talks between WB and Azerbaijan government were also held for accelerating the treaty to be signed.

The project to be realized till March 2006 will be allocated 5.4 million dollars by WB. The purpose of the project is to help Azerbaijan in the tasks of re-structuring banks, strengthening bank infrastructures and preparing the strategy over finance sector. "Development of finance services" project was approved last month and 12 million 250 thousand dollars will be allocated for the execution by the bank.

It must be mentioned that, in the frames of the projects realized by WB credits are given with 0.75% per year for 35 years 10 of which will be preferential. /APA/