AzerNews, Azerbaijan
Feb 24 2005
World Bank to allocate $11m to Azerbaijan
The World Bank is expected to allocate a $11 million loan to
Azerbaijan shortly. The funds will be earmarked for improving the
social plight of Azerbaijani refugees and IDPs and relevant
micro-projects.
The WB project manager Helen Hamilton has visited Baku several times
to work on developing the new project. It will be forwarded to the WB
board of directors for approval shortly.
During Hamilton’s visits, she discussed and agreed with the Azeri
side on starting the implementation of the new project.
The World Bank disbursed $20 million as a main loan and a $10 million
additional loan later under another project, “Rehabilitation of freed
territories”, implemented in Azerbaijan from July 1998 until December
31, 2004. The goal of this project, executed by the Agency for
Restoration and Rehabilitation of Areas, was to assist in settling
and improving the living conditions of those displaced as a result of
the Upper Garabagh conflict.