WB approves support project for IDPs
The World Bank has approved a $15 million credit to Azerbaijan to
improve living conditions, enhance economic opportunities and
increase prospects for social integration for those displaced by
the conflict with Armenia.
The additional financing to the Internally Displaced Persons' (IDPs) Economic Development Support Project will support the scaling up of the micro-project component of the ongoing project to meet the needs of an additional 150,000 people living in IDP communities across Azerbaijan. The funds will also cover the operational cost of the Social Fund for the Development of Internally Displaced Persons (SFDI), the implementing agency of the project.
"This additional financing is the World Bank's response to the Azerbaijani government's interest to build on positive results gained during implementation of the ongoing project," said Gregory Jedrzejczak, World Bank Country Manager for Azerbaijan.
Approved in 2005, the project has three components including micro-projects, micro-credits, and implementation support. Thus far, the micro-project component has financed more than 150 small-scale projects, including repairing, rehabilitating or building basic infrastructure such as water supply networks, power supply, access roads, and drainage systems, as well as social infrastructure such as schools and community centers. The project has also financed the repair and rehabilitation of temporary shelter facilities.
By the end of December 2007, a total of 125 micro-projects had been completed or were under implementation, while another 38 micro-projects were at various stages of preparation, tendering and contract negotiations. Total commitments for these operations totaled some 100 percent of the $10.5 million originally allocated.
The IDP Project is part of a dynamic relationship between Azerbaijan and the World Bank. As a result of this cooperation, the WB and Azerbaijan have recently agreed on ten new projects, and a variety of technical assistance activities aimed at improved management of oil revenues and diversification of the non-oil economy, as well as improvements in the social sector.
Azerbaijan joined the WB in 1992. Since then, commitments to the country total approximately $1.072 billion for 37 operations.
The additional financing to the Internally Displaced Persons' (IDPs) Economic Development Support Project will support the scaling up of the micro-project component of the ongoing project to meet the needs of an additional 150,000 people living in IDP communities across Azerbaijan. The funds will also cover the operational cost of the Social Fund for the Development of Internally Displaced Persons (SFDI), the implementing agency of the project.
"This additional financing is the World Bank's response to the Azerbaijani government's interest to build on positive results gained during implementation of the ongoing project," said Gregory Jedrzejczak, World Bank Country Manager for Azerbaijan.
Approved in 2005, the project has three components including micro-projects, micro-credits, and implementation support. Thus far, the micro-project component has financed more than 150 small-scale projects, including repairing, rehabilitating or building basic infrastructure such as water supply networks, power supply, access roads, and drainage systems, as well as social infrastructure such as schools and community centers. The project has also financed the repair and rehabilitation of temporary shelter facilities.
By the end of December 2007, a total of 125 micro-projects had been completed or were under implementation, while another 38 micro-projects were at various stages of preparation, tendering and contract negotiations. Total commitments for these operations totaled some 100 percent of the $10.5 million originally allocated.
The IDP Project is part of a dynamic relationship between Azerbaijan and the World Bank. As a result of this cooperation, the WB and Azerbaijan have recently agreed on ten new projects, and a variety of technical assistance activities aimed at improved management of oil revenues and diversification of the non-oil economy, as well as improvements in the social sector.
Azerbaijan joined the WB in 1992. Since then, commitments to the country total approximately $1.072 billion for 37 operations.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
Subscribe
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!