TODAY.AZ / Business

World Bank to fund $22 million for Azerbaijan court system reforms

19 May 2006 [01:25] - TODAY.AZ
Official talks between the Azeri government and World Bank on the occasion of preparing a project of improving and upgrade of court and administrative system in Azerbaijan have been finished, the Baku-based WB office informed.

According to Sharg news agency, the WB endorsed a $22 million credit for this project to be disbursed on the terms of International Bank for Reconstruction & Development – for 35 years, including 10-year period and interest rate of 0.75% per annum.

Earlier WB was expected to give a $20 million credit. But because of addition of a new component to the project, technical provision of Constitutional Court, the credit amount was increased.

Other components include development of human resources, enlightening of citizens with the rules and current situation of the field, technical assistance when drafting legislative acts.

All the documents on the project have been submitted to the Cabinet Ministers for final coordination. Immediately after completion of all internal governmental procedures, until the end of May the documents will be submitted for consideration of the WB Board of Directors, the Baku-based WB office said.

/BakuTODAY.net/

URL: http://www.today.az/news/business/26278.html

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