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Rural Investment Project in Azerbaijan

21 July 2009 11:36 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Rural Investment Project (AZRIP) carried out by the State Agency on Agricultural Credits under the Ministry of Agriculture assisted the communities in various regions to improve their knowledge and skills, said World Bank country manager for Azerbaijan Gregory Jedrzejczak on Tuesday, in a press conference on the AZRIP results, APA-Economics reports.

Deputy Minister of Agriculture Ilham Guliyev said the rural population chose its needs within the project and totally 340 projects were funded by AZRIP in 21 regions and nearly one million citizens took advantaged from this project.

Department Chief of the Cabinet of Ministers Nail Fathaliyev said the government of Azerbaijan discussed 52 projects of $2 billion 750 million with the World Bank and signed credit agreements on 48 projects of $2 billion 419 million, 23 of these projects are carried out currently.

Project manager Subhan Asgarov said AZRIP covered 340 communities and it funded reconstruction of 140 roads, 69 drinking water facilities, 19 school buildings, improvement of 25 melioration systems, 43 electric facilities and 28 healthcare projects, construction of two bridges and 14 drainage projects as well.

It is looking forward to fund nearly 250 projects in the second phase of the project.

21 million dollars were spent in the first phase of the project. $15 million was allocated by the World Bank as 35-year loan with 0.75% a year. The communities have 10% share in the projects. A part of this share provided as a physical labor and other part by cash.