Azernews.Az

The Azerbaijani government implemented six projects jointly with the World Bank in 2007, with even larger projects in store for the next year in the social, environmental and human development fields, the WB vice-president said.
Speaking to reporters in conclusion of his five-day visit to Baku last week, Shigeo Katsu said that although the economic projects realized in the country this year were successful, some key issues remain unresolved. He said that among important objectives in 2008 was improving the conditions of refugees and displaced persons. The programs to be implemented also include investment projects, the second stage of the education program, the government's policy on social security, and pensions in particular.
"We will be working to implement projects on water supplies in the regions, upgrading roads and railways, improving the finance sector and providing financial services through the post," he said.
The WB official added that another pivotal issue was launching a program to address environmental challenges facing the Absheron Peninsula, a wider area that encompasses the capital Baku.
Katsu said the WB will halt the allocation of concessional loans to Azerbaijan, as bank executives no longer consider it an underdeveloped country. The last such credit, worth $131 million, will be disbursed next year.
"We have informed the Azerbaijani government that the bank will allocate only one more loan on concessional terms. Since the country was excluded from the list of poor states at the latest meeting of the WB board of directors, the disbursal of such loans will be discontinued next year," Katsu said.
He regarded the fact that Azerbaijan no longer needs advantageous loans as a positive development.