Azerbaijan signs three loan agreements with World Bank

Yesterday in the Cabinet of Ministers were signed three loan agreements between the Government of Azerbaijan and the International Bank for Reconstruction and Development (World Bank group member), on which $ 300 million is borrowed under institutional reforms and development of social infrastructure in rural areas and reclamation system.

The first loan provides additional funding of $ 150 million for the II project of the National Water and Sanitation Services, the beneficiary of which is JSC Irrigation and Water Management. Implementation of the project will improve the services to the population in eight regions of the country.

The Ministry of Agriculture has received additional funding of $ 50 million. They continue to work to improve the social and farm irrigation infrastructure in rural communities.

The project "Innovative services for justice and modern judicial infrastructure" is aimed at improving the availability of services in justice and legal assistance, to promote justice in the provision of these services and to ensure their transparency. For these purposes, the Ministry of Justice will receive $ 100 million.

On behalf of the World Bank the documents were signed by the local office manager Larisa Leshchenko.

Currently, the World Bank portfolio in Azerbaijan consists of 18 projects. Since 1992, the Bank has financed 54 projects, under which loans of $3.8 billion were allocated. --08D--

Leave a review


Follow us on social networks

News Line