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WB allocates $150 mln to Azerbaijan

10 July 2014 11:07 (UTC +04:00)

Baku. PArviz Nuriyev – APA-Economics. The World Bank’s Board of Executive Directors today approved two IBRD loans to the Republic of Azerbaijan.

The first loan, in the amount of US$100 million, will support the Judicial Services and Smart Infrastructure Project (JSSIP). This project builds on the current Judicial Modernization Project, and aims at improved access, transparency, and efficiency of selected judicial services.

The second loan, in the amount of US$50 million, is an Additional Financing for the ongoing Azerbaijan Rural Investment Project (AzRIP), which helps rural communities in Azerbaijan improve their well-being by supporting small-scale infrastructure and income-generating activities.

“Modernization of Azerbaijan’s judiciary can play a vital role in the country’s future economic development,” says Henry Kerali, World Bank Director for South Caucasus. “The project will support this transformative process by supporting judicial infrastructure; introducing e-services; establishing more effective dispute resolution and business inspections systems; increasing transparency of judiciary; and improving legal aid services to citizens, particularly to vulnerable segments of the population, such as internally displaced persons and residents of remote regions.”