TODAY.AZ / Business

WB to start $1.2 billion cooperation with Azerbaijan

15 May 2006 [14:49] - TODAY.AZ
The strategy on cooperation between the World Bank and Azerbaijan is assessed USD 1,2 billion.

A big part of the amount to be allocated by International Bank for Reconstruction and Development will be spent on social projects, reforms on law-enforcement bodies, improvement of accounting and water supply system.

Meanwhile the World Bank intends to allocate USD 200 million to reconstruction of roads in the country. Credit agreement on the issue will be signed on May 16. The Board of Directors of the Bank made decision on granting the credit even in January 2006, as Baku representation of the World Bank informs. The credit will be issued under terns of International Bank for Reconstruction and Development for twenty tears.

Reconstruction of Azerbaijani roads is also considered within the East-West and North-South transport corridor project that will be funded from the credit. Certain parts of Alat-Astara, Baku-Sumgait and Baku-Shamakhi-Mughan highways are to be reconstructed within the project as well, ANS reports.


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