TODAY.AZ / Business

WB & government sign a loan agreement on new project

17 January 2006 [21:40] - TODAY.AZ
On Tuesday the World Bank and the Azerbaijani government signed a loan agreement on allocation of two grants within the implementation of new project "Agricultural Environment of Azerbaijan".

As Trend reports referring to the press release spread by Ecology and Natural Resources Ministry, the document was signed by Saida Baghirly, the acting manager of WB on Azerbaijan, and Husseyn Baghirov, the Azerbaijani Ecology and Natural Resources Minister.

The total value of the project comprises $17.1m with $8m falling to the loan by the International Development Association, $5m - Global Ecological Fund, $2.72m - grant by the Japanese government. The Azerbaijan’s share in the project makes up $1.38m. The project consists of three major components and aims at preservation of bio species in two mountainous regions, management of natural resources, restoration of ecological health and productivity of forests in these regions.


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