IDB to eye realization of Azerbaijan’s irrigation project
A mission of the Islamic Development Bank will visit Baku to become familiar with the process of implementation of the project for the comprehensive development of the rural areas, IDB representative in Azerbaijan told Trend.
IDB representative Tamerlan Tagiyev said the mission will be in
Azerbaijan on April 14-18, adding that improving the irrigation
system is one of the elements of this project.
The project for the comprehensive development of the rural areas is
being implemented with the loans of IDB and the International Fund
for Agricultural Development.
The project envisages rendering assistance to 50,000 families in
rural areas in four northern and central regions of the country,
namely, in Yevlakh, Aghdash, Sheki and Oghuz.
The total cost of the project is $103.8 million. IDB approved the
allocation of $66.4 million worth loan in late 2010, while IFAD
approved $19.7 million worth loan in 2011 to finance the mentioned
project. The remaining part will be financed with the share of the
country’s government.
Azerbaijan became a member of IDB in 1992. The bank has invested
over $1.2 billion in Azerbaijan for the implementation of projects
in various spheres of economy.
The total volume of investments made by IFAD in Azerbaijan is $87
million. It has implemented a number of agricultural development
programs in Azerbaijan since 1997.
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