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World Bank to give $30 million to Azerbaijan for Internally Displaced Persons

14 September 2007 15:53 (UTC +04:00)

The World Bank plans to start Phase 2 of the Internally Displaced People Economic Development Support Project in Azerbaijan.
Peter Thomson, Director of the Sustainable Development Department of the Europe and Central Asia Region of the World Bank, said in Baku that the bank intends to extend $10 million to $30 million for the second phase.
He added that the funds will be spent on social infrastructure like establishment of schools, community centers and training of teachers.
For Phase 1, in 2005 the World Bank approved a US$11.5 million Internally Displaced Persons (IDPs) Economic Development Support Project. That project aimed to improve living conditions, enhance economic opportunities and prospects for social integration for IDPs.
The IDP EDS Project has a maturity of 35 years, including a ten-year grace period. /APA-Economics/