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Azerbaijan repays $49 mln to World Bank on main debts of credits

Azerbaijan repays $49 mln to World Bank on main debts of credits

13 March 2012 10:00 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. BY January 1, 2012, Azerbaijan and World Bank have signed contracts on allocation of $ 3,054.9 mln for financing of 55 projects.

According to Cabinet of Ministers, 34 projects with the total worth of $848.3 mln have been implemented, 21 projects with the total worth of $2,206.6 mln are being implemented.

As of January 1, 2012, Azerbaijan used $ 1,620.7 mln of credits and this makes 43.2% of total sum of credits. As of January 1, 2012, $ 49.1 mln was repaid.

Along with loans, WB has allocated 44 grants in amount of $41,051 mln in 1995-2011. 338 of them in amount of $ 30.228 mln have been implemented, 6 grants in amount of $ 10.823 mln are being implemented.

Note that, Azerbaijan has been in cooperation with WB since 1992.

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