WB mission to study project of state investments in Azerbaijan
A mission of the World Bank will review the project on strengthening the potential of state investments in Azerbaijan, the WB Baku office told local news agency Trend.
The mission, led by the head of a relevant working group, Elizabeth Wong, is paying a five-day visit to the country for the purpose.
The project aiming to strengthen the capacity of state investment was approved in June 2009 and came into force in November 2009.
The project, estimated at a total of $10 million, is scheduled for completion in late March 2014. The WB has approved a loan for its implementation in the amount of $8 million, while the rest of the funds will be provided by the Azerbaijani government. The WB's lending was allocated under the terms of the International Development Association (IDA) for 20 years with a ten-year grace period. As of early September 2011, $2.2 million of the funds provided by the bank had been spent.
The main objective of the project is to improve the efficiency and quality of preparation and execution of investment projects in key priority sectors, particularly, in the infrastructure sector.
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