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WB to allocate $ 1 bln to Azerbaijan

10 June 2010 08:39 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. World Bank held the presentation of new cooperation strategy (CPS) for Azerbaijan Government on the country which will cover next 4 years for.

According to WBâ€™s Baku Office, WB Country Director for South Caucasus Asad Alam held a presentation for Minister of Finance Samir Sharifov and Minister of Economic Development Shahin Mustafayev on the CPSâ€™s base statute which was offered by the bank.

Note that, new cooperation strategy is expected to be adopted in September, 2010. According to strategy, WB will allocate $ 250 mln to Azerbaijan government for a year and this makes $1 bln in for years.

Azerbaijan has been in collaboration with WB since 1992. The bank allocated more $ 2 bln to Azerbaijan for execution of 45 projects.